The 2023 Labour Party presidential candidate, Peter Obi, has said Nigeria’s persistent economic struggles are largely the result of poor governance and wrong leadership decisions.
Peter Obi explained that Nigeria is richly blessed with natural and human resources. However, he said the country continues to face hardship because of bad leadership and misplaced priorities.
The former governor of Anambra State made this statement on Thursday in Abuja. He spoke while receiving members of the Association of Skilled and Vocational Artisans of Nigeria, led by the group’s National President, Obijuru Everest.
During the meeting, Peter Obi said Nigeria has the potential to become one of the strongest economies in the world. Despite this opportunity, he said poor governance has prevented the nation from achieving its true economic strength.
According to Peter Obi, Nigeria should not be classified as a poor country considering its available resources. He said leadership failures and poor policy decisions have kept millions of Nigerians in hardship.
Peter Obi also criticised a growing culture where individuals accused of looting public funds are celebrated. He said such behaviour weakens the country’s moral values and slows down national development.
Peter Obi stated that corruption remains one of the biggest barriers to economic progress. He explained that funds meant for public services are often diverted away from critical sectors.
He noted that resources that should support schools, hospitals and productive industries are frequently mismanaged. Peter Obi warned that underfunding education and healthcare leads to long-term national underdevelopment.
The Labour Party leader stressed that strong investment in education and healthcare is essential for national growth. According to Peter Obi, countries that prioritise these sectors often achieve faster economic progress and improved living standards.
Peter Obi also shared insights from a past discussion with political leaders in Indonesia. He said the Asian country’s development was driven by improved governance and strategic investment in human capital.
According to Peter Obi, the lesson from such experiences is clear. Countries must fight corruption decisively and invest heavily in key social sectors to achieve sustainable growth.
Peter Obi also highlighted the importance of small and medium-scale enterprises in strengthening the economy. He described SMEs as the backbone of thriving economies around the world.
He urged the government to support small businesses through better infrastructure, fair policies and improved access to funding. Peter Obi said when small businesses grow, they create jobs and reduce poverty.
Peter Obi concluded by encouraging citizens to remain active in the democratic process. He also called on Nigerians to hold their leaders accountable in order to promote transparency and responsible governance.
