The presidential candidate of the Labour Party in the last election, Mr. Peter Obi, has berated the administration of President Bola Tinubu for what he described as poor economic policies.
While speaking during an interview on Arise News Prime Time on Tuesday, Obi expressed concerns over Tinubu’s decision to float the naira without corresponding productivity.
He also raised concerns over the escalating debt burden, noting that debt servicing now surpasses the budget allocations for critical sectors such as health and education.
Obi remarked, “The President has been in office for nearly two years, and look at the state of the economy. This shows that a leader can effect change within two years. If I were in charge, Nigerians would have seen significant improvements in key areas. I would confront corruption decisively and cut down on the cost of governance. Borrowed funds would be channelled into productive sectors”.
Mr. Obi also expressed dissatisfaction over the high interest rates under Tinubu’s administration, lamenting that businesses are struggling to survive in the current economic condition.
“We are grappling with a massive debt crisis. The current administration inherited a debt of about N17 trillion, and in just two years, it has ballooned to over N170 trillion. The cost of servicing these debts now exceeds the nation’s budget for critical areas like health and education. Seventy per cent of our primary healthcare centres are dysfunctional. If I were in charge, I would prioritise fixing these primary healthcare centres and schools,” he added.
The former governor of Anambra State reiterated his continued membership of the Labour Party while also acknowledging his collaboration with former Vice President Atiku Abubakar and other key political stakeholders for the betterment of Nigeria.
“Elections are determined by the people’s votes. The issues we are discussing today stem from the fact that we are not running a proper democracy. What we are doing is working together for the country’s progress. I am not desperate to be President, but I am desperate to see Nigeria work,” he said.
Peter Obi further accused the Tinubu administration of suppressing opposition voices, arguing that the Nigerian political landscape is structured to stifle opposition.
“Our political system does not encourage opposition. People often reference South Africa, which operates a presidential system like ours, but the difference is that they allow their opposition to thrive. They have proportional representation in the legislature, which ensures a robust opposition,” he added.
Speaking on his potential candidacy in the 2027 presidential election, Obi maintained a cautious stance, insisting that his priority remains the nation’s progress rather than personal ambition.
“I am not keen on discussing 2027 at this point. Yes, I am part of a coalition, but any political alignment must focus on the country’s future. The goal should be to invest in education and economic development, not just to seize power. We are talking about collaboration to salvage Nigeria. I am not desperate to be President, but I am desperate to see Nigeria work,” Obi said.
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