Labour Party’s 2023 presidential candidate, Peter Obi, has taken a swipe at President Bola Tinubu’s handling of Nigeria’s economy, arguing that the administration’s policies have worsened the nation’s financial struggles.
Speaking during an interview on Arise News, Obi faulted Tinubu’s decision to float the naira without a strong production base, a move he said had further weakened the country’s economy. He also criticized the rising national debt and the soaring cost of servicing it, insisting that funds should be directed towards critical sectors like health and education instead of accumulating debt.
The former Anambra State governor maintained that if he had been elected, his administration would have taken a different approach, emphasizing productivity and responsible governance. According to him, within two years, Nigerians would have seen tangible improvements in key sectors, including education and healthcare.
Obi further decried the high-interest rates under the Tinubu administration, saying the policy had stifled businesses and made economic growth nearly impossible. He noted that while devaluing the naira was not necessarily wrong, it should have been accompanied by policies that promote production.
On his political future, Obi confirmed his continued membership in the Labour Party but admitted to working with other opposition figures, including former Vice President Atiku Abubakar, in a bid to rescue Nigeria. He downplayed personal ambition, stressing that his primary concern was ensuring that the country was governed competently.
Obi also accused the current administration of suppressing opposition voices, stating that Nigeria’s political system was structured to silence dissent. He condemned the handling of the crisis in Rivers State, warning that the erosion of democratic principles could have long-term consequences for governance in the country.
While refusing to confirm whether he would run for president again in 2027, Obi emphasized that any political alliance he was involved in would prioritize national development over the mere pursuit of power.
