Peter Obi, former presidential candidate, has raised alarm over Nigeria’s worsening socio-economic conditions, warning that the country risks further decline if urgent steps are not taken to address its challenges.
Obi spoke on Tuesday at the national convention of the African Democratic Congress (ADC) led by David Mark in Abuja.
The former Anambra State governor, stressed the need for unity, lamenting that Nigeria has become increasingly divided under the current administration.
“We need to work as a united Nigeria. Today, the country is deeply divided, and our unity is in serious trouble. If we allow this situation to continue, it will only get worse,” he said.
Obi also painted a grim picture of the nation’s economic trajectory, noting that Nigeria has slipped in global economic rankings and is struggling across key sectors.
According to him, the country has fallen behind its peers despite its vast potential.
Speaking on poverty, Obi said the situation has deteriorated significantly. He claimed that when the current government assumed office, the poverty rate stood at about 41.6% affecting roughly 10 million people, but has now risen to about 53%, with nearly 14 million Nigerians impacted.
On fiscal management, he expressed concern over Nigeria’s rising debt profile. Obi stated that the country’s debt has ballooned from about N37 trillion before the current administration to nearly N200 trillion, warning that such borrowing levels are unsustainable.
He criticised the handling of subsidy removal and public finances, arguing that government policies have not translated into tangible relief for citizens.
“We are heading towards a disaster if we don’t change course. We must all work hard and do what is necessary to secure the future of our children,” Obi said.
He urged Nigerians to remain committed to building a better nation, warning against complacency in the face of growing economic and social challenges.
“We must not sacrifice the future of our children. If we fail to act now, we will all bear the consequences,” he added.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
