Peter Obi, the 2023 presidential candidate of the Labour Party (LP), has asserted that President Bola Tinubu has faithfully followed through on his campaign promises to continue the legacy of his predecessor, President Muhammadu Buhari.
Obi claims that this continuation has led to economic crisis and increased national debt.
“I would say that president Tinubu has kept to his campaign promises. Throughout the campaign, he consistently maintained that he will continue from where Buhari stopped and he’s done very well. I would say excellent. I’ll give him an excellent pass mark,” Mr. Obi told Arise TV on Wednesday.
Obi elaborated on the economic downturn under Tinubu’s administration, highlighting the depreciation of the Nigerian naira and the surge in food prices.
“When he (Mr Tinubu) came, Dollar was N460, it’s now N1,500. Fuel was N238, it’s now about N700. Diesel was 844, it’s now 1,415. A bag of rice was between N30,000 and N35,000, it is now about N80, 000. Garri was between N27,000 and N28,000, it is now between N49, 000 and N50,000. Our debt, like I mentioned, was N87 trillion. By the end of last year, it was actually N97 trillion, the highest we’ve gone within that short period. Now it’s over N100 trillion.”
Obi lamented the decline of Nigeria from Africa’s largest economy to the fourth largest under Tinubu’s leadership, citing deteriorations in security, corruption, and adherence to the rule of law.
“Every other thing has headed South. Is it insecurity? It has worsened. Corruption has worsened, adherence to the rule of law has worsened. Nepotism is at its highest.”
President Tinubu, who marked one year in office on May 29, has faced criticism for economic hardships resulting from his policies, including fuel subsidy removal and the floating of the naira, though these moves have been praised by experts and the International Monetary Fund.
Meanwhile, Minister of Information Mohammed Idris noted that many Nigerians are not benefiting from Tinubu’s policies due to a lack of awareness about available opportunities.
“It is important to note that often, Nigerians are not aware of the opportunities arising from the implementation of government policies and programs,” Mr. Idris said at the 2024 SYNOD of the Charismatic Bishops Conference of Nigeria in Abuja on Wednesday.
The Minister said that government schemes like the Presidential Loan and Grant Scheme are accessible to ordinary Nigerians, provided they are informed about how to apply.
“For example, the Presidential Loan and Grant Scheme I mentioned earlier. Many ordinary Nigerians have benefited and are benefiting, without needing to have any ‘connection’ – all they did was to follow a simple application process. But first, they had to be aware of this opportunity, and how to apply and benefit from it.”
