Peter Obi, the presidential candidate for the Labour Party in the 2023 elections, has boldly stated that he would have managed Nigeria's economy more effectively than President Bola Tinubu.
In an exclusive interview, Obi discussed the current economic challenges plaguing Nigeria, including inflation, devaluation of the naira, and a significant rise in the national debt. He also expressed concern over what he described as the “lack of a coherent economic strategy” under Tinubu’s government.
Obi, a former governor of Anambra State and a prominent businessman, criticized the administration for its handling of key economic issues such as the removal of fuel subsidies and its failure to cushion the adverse effects of this policy on ordinary Nigerians. According to Obi, if he had been president, he would have implemented a much more strategic approach, focusing on fiscal discipline, cutting wasteful government spending, and prioritizing the stimulation of local industries over foreign dependency.
He further explained that his economic model would focus on sustainable growth, job creation, and improving Nigeria’s manufacturing sector to reduce the country’s reliance on oil exports. “Nigeria's greatest asset is its people, and a focus on human capital development through education and skills acquisition would have been a key part of my policy,” Obi said.
Despite criticism of Tinubu’s economic reforms, the government has defended its actions, asserting that the removal of fuel subsidies was an unavoidable step to fix the country’s fiscal imbalance. However, Obi’s remarks continue to resonate with a significant portion of the population who feel the current policies are insufficient in addressing the economic hardship many Nigerians are facing.