Former Anambra State governor Peter Obi, yesterday x-rayed Nigeria’s journey as a nation and concluded that leadership failure has derailed the vision of those who fought for its independence.
Obi, in a statement on his X handle to mark the country’s 65th Independence Day, recalled that Nigeria, which was once projected to become Africa’s economic giant, has ‘slipped to the fourth-largest economy on the continent.’
He lamented that years of poor governance and waste have not only worsened poverty but also widened inequality.
The tweet reads: ‘Our founding fathers fought for independence with confidence and determination to build a prosperous Nigeria.
‘Unfortunately, tragic failures of leadership derailed this vision.
Obi claimed that as of 2007, Nigeria’s debt was about N2.5 trillion – less than 10 per cent of Gross Domestic Product (GDP) when former President Olusegun Obasanjo secured debt relief for the country.
He added that by 2014, Nigeria had become Africa’s largest economy and was set to attain middle-income status.
The LP candidate lamented that the progress was ‘truncated’ after the All Progressives Congress (APC) came into power in 2015.
He said: ‘Today, our debt has ballooned to about N175 trillion, nearly 50 per cent of GDP, without corresponding improvement in productive sectors.
‘Nigeria has fallen behind South Africa, Egypt, and Algeria. Our democracy is now described as undemocratic.
Obi accused the government of spending lavishly while millions of Nigerians have no access to healthcare, education, or safe water.
He also said that insecurity has further affected the economy, with kidnapping and terrorism keeping Nigerians in fear.’
‘Cronyism, corruption, and disregard for the rule of law have scared away investors, while other African countries are overtaking us as investment destinations,’ Obi said.
Obi, however, expressed optimism that Nigeria could still achieve greatness.
He urged Nigerians not to lose hope because ”Nigeria will rise again.’ added.