Presidential candidate of the Labour Party in the 2023 general election, Mr. Peter Obi, has raised the alarm over what he described as a dangerous decline in Nigeria’s democratic and economic trajectory under President Bola Ahmed Tinubu, saying the current administration has borrowed more in two years than the combined total of three former presidents.
Obi, a former governor of Anambra State, stated this in a statement on Thursday titled “Democracy in Decline: Reflecting on Two Years of Tinubu’s Governance.”
He accused Tinubu of dragging Nigeria further into recession—both economically and democratically—and running a government that thrives on propaganda, impunity, and disregard for the rule of law.
“Our dear country, Nigeria, cannot be justly classified as a democratic nation today. The key features of democracy are absent. Rules and requirements for elections are flouted, while individuals who should be disqualified hold public offices with impunity,” Obi said.
The LP flagbearer said the Tinubu administration has failed across all key governance indicators—corruption, economy, insecurity, education, and healthcare—leading to increased poverty, hunger, and public frustration.
He warned that instead of addressing Nigeria’s multiple crises, President Tinubu has spent an excessive amount of time abroad, noting that he had embarked on over 30 international trips, spending almost 150 days outside the country since assuming office in May 2023.
“Mr. President, if you had spent just two days in each of Nigeria’s 36 states, it would take 72 days—less than half the time you’ve spent travelling abroad. Nigerians need a President who is present,” Obi said.
Obi painted a grim picture of Nigeria’s state under Tinubu, citing hard economic data. He said the country’s Gross Domestic Product (GDP) fell from $364 billion in May 2023 to $188 billion in 2025—a nearly 50% decline. GDP per capita, he added, also plunged from $1,640 to $835.
According to him, multidimensional poverty has spiked from 38.9% to 54%, with over 129 million Nigerians now living below the poverty line.
Obi said, “The World Bank reports that 75% of rural Nigerians live in poverty. Over 18.3 million children are out of school—the highest number globally. Education is collapsing, and students now take exams by candlelight.”
He also revealed that Nigeria’s healthcare system is in a state of collapse, citing UN data which labels Nigeria as the worst country in the world to give birth.
“Less than 20% of the country’s 30,000 primary health care centres are fully functional. I’ve visited centres where delivery rooms don’t even have toilets,” Obi said.
Highlighting the collapse of the business sector, Obi said about seven million Small and Medium Enterprises (SMEs) have shut down in the past two years, while more than 80 manufacturing companies and at least 15 multinationals—including GlaxoSmithKline, Procter & Gamble, and Shoprite—have exited Nigeria due to a hostile business climate.
He added that the worsening food crisis has made Nigeria one of the hungriest countries in the world, citing the Global Hunger Index.
The mental health crisis, he said, is also deepening, with 59% of Nigerians experiencing chronic stress, anger, and anxiety.
Obi criticized the Tinubu government for its voracious borrowing appetite, saying the administration has borrowed more in two years than the combined borrowing of Presidents Umaru Musa Yar’Adua, Goodluck Jonathan, and Muhammadu Buhari.
“Despite claims that removing fuel subsidy would curb borrowing, this government has driven Nigeria’s public debt to nearly N188 trillion. Yet, no visible improvements in health, education or poverty reduction,” Obi said.
He decried the widespread corruption and budget fraud under the current government, accusing the National Assembly of inserting N7 trillion in suspicious projects into the 2025 national budget.
“Our national budget has become a crime scene. The system is now characterized by brazen corruption, state capture, and a weaponized governance structure that rewards failure and punishes accountability,” he said.
'
'
'
'Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE
