APC Has Crippled Nigeria, But A Great Nation Is Still Possible — Peter Obi

Labour Party Presidential Candidate in the 2023 general election, Mr. Peter Obi, has urged Nigerians not to lose hope in the country despite worsening economic and security conditions under the present administration.

In a statement to mark Nigeria’s 65th Independence Anniversary on Wednesday, Obi lamented that what should have been a day of joy and pride has instead become a period of reflection on decades of missed opportunities, poor governance, and worsening hardship for millions of citizens.

Tracing Nigeria’s history since independence in 1960, Obi said the country once held global promise as an emerging African superpower but has since been crippled by leadership failures.

“By 2014, Nigeria had become Africa’s largest economy and was primed to achieve middle-income status. But today, our total debt stands at about N175 trillion, nearly 50 percent of GDP, without any visible improvement in productive sectors. Nigeria has now fallen to the fourth-largest economy in Africa,” he said.

The former Anambra governor accused the ruling All Progressives Congress (APC) government of reckless borrowing, wasteful spending, and policies that have worsened poverty and hunger. He cited figures showing that in just one year, over 15 million Nigerians had been pushed into acute poverty, while more than 150 million citizens currently lack access to basic health, education, water, and sanitation.

Obi also criticised what he described as “extravagant spending by leaders in the face of national suffering,” pointing to billions spent on new presidential jets, luxury cars, and the renovation of the Vice President’s residence, which cost N25 billion—more than the combined capital budgets of six federal teaching hospitals.

On insecurity, he said Nigeria has become “one of the most terrorised and unsafe nations in the world,” with kidnapping and terrorism crippling economic activities and scaring away investors.

Despite the grim situation, Obi maintained that Nigeria still has the potential to rise again if it embraces competent and people-centred leadership.

“We should learn from nations like China, India, Indonesia, and Bangladesh, which turned around their economies through disciplined leadership and people-centred policies. Nigeria too can rebound, but only if we exit the path of incompetence and fiscal irresponsibility,” he stressed.

Obi called on political leaders to transcend corruption, bigotry, and personal interests, insisting that only competence, compassion, and commitment can rescue Nigeria from its current decline.

He concluded with a message of hope, declaring:

“Against all odds, we will return Nigeria to the path of prosperity and justice. We will not relent. We will not be discouraged. The mission is clear: Nigeria will rise again. A new Nigeria is POssible.”