On the occasion of Nigeria’s 65th Independence Anniversary, Peter Obi, the Labour Party Presidential Candidate in the 2023, issued a statement asserting that “A Great Nigeria is Still Possible,” even as he painted a “bleak” picture of the nation’s current state.
Obi began his address by noting that October 1st should be a day of joy and remembrance to celebrate Nigeria’s independence, which, in 1960, earned global acclaim as the nation was viewed as an emerging African economic and political power.
He recalled that Time Magazine had predicted the rise of a true African superpower. This vision, he stated, was fought for by the founding fathers with confidence and determination to build a prosperous Nigeria.
The former Anambra State Governor immediately pivoted to the present, declaring that “tragic failures of leadership” have derailed this vision. While acknowledging the nation’s resilience, particularly the restoration of democracy in 1999 and the subsequent building of Africa’s largest economy by 2014, Obi argued that the last decade, under the “incompetent, divisive, and corrupt leadership” of the APC, has “greatly diminished” Nigeria.
Obi noted that by the end of 2007, Nigeria’s total debt was about N2.5 trillion (10 percent of GDP), following significant debt forgiveness. Today, he stated, the total debt stands at about N175 trillion, nearly 50 percent of GDP, with no corresponding improvement in productive sectors.
He also noted that the administration has pushed over 15 million Nigerians into acute poverty in just one year, with more than 150 million Nigerians now lacking access to basic healthcare, education, water, and sanitation. This, he noted, contributes to Nigeria ranking among the lowest in the world on human development indicators.
Obi fiercely criticized the government’s spending priorities, accusing it of heavily taxing struggling citizens and small businesses while indulging in “extravagance”. He highlighted several examples, billions are being spent on new presidential jets, yachts, and luxury cars—expenditures that he said, cost more than the entire 2024 budget for primary healthcare.
The renovation of the Vice President’s residence cost N25 billion, which Obi stated is more than the combined capital budgets of six major federal university teaching hospitals. Additionally, over N10 billion was allocated for car parks and canteens for the National Assembly.
He lamented that Nigerians are paying more for everything from passports, electricity, petrol, food, rent, and even healthcare while receiving less. He cited projections from UNICEF and WFP that “33 million Nigerians will face acute hunger in 2025.”
The Labour Party candidate also slammed the administration’s handling of security and governance, asserting that the government is borrowing “recklessly” for “wasteful consumption” instead of productive investment.
He stressed that insecurity has “crippled our economy,” with kidnapping rampant and billions paid in ransom. Obi warned that “Cronyism, corruption, and disregard for the rule of law” have scared away investors, allowing other African nations to overtake Nigeria.
Despite the grim assessment, Obi concluded on a hopeful note, insisting that Nigeria’s potential for greatness remains. He called for “competent, compassionate, and committed leadership” focused on prudent economic management, investment in human capital, and rule of law.
He urged the nation to learn from countries like China, India, Indonesia, and Bangladesh, which achieved economic turnarounds through disciplined leadership and people-centred policies.
“The mission is clear: Nigeria will rise again,” Obi declared. He called on political leaders to “transcend personal interests,” reject “corruption, bigotry, and division,” and embrace a new Nigeria where leadership is defined by competence, compassion, and commitment.
“A new Nigeria is POssible,” the statement concluded.
