Peter Obi Criticizes Current Economic State, Claims Business Failures Have Increased Hardship

Former Anambra State Governor and presidential candidate Peter Obi has criticized the current administration’s economic performance, asserting that many Nigerians who were thriving before 2023 have been forced into severe financial distress.

In a recent interview, Obi argued that the “Renewed Hope” agenda has failed to deliver on its promises, leading to a decline in living standards rather than the progress supporters had anticipated. He claimed that the combination of rising insecurity and economic instability has caused numerous businesses to collapse, leaving former business owners struggling to provide for themselves.

“Those who had businesses when he came into power have collapsed,” Obi stated, suggesting that the economic reality has become so dire that citizens are now forced into menial trade just to survive.

He further challenged the administration’s handling of national poverty and hunger statistics, claiming that the country’s rankings in these areas have worsened since President Bola Tinubu took office. According to Obi, the dissatisfaction among the populace is not merely speculative but is based on the tangible, everyday hardships faced by citizens across the country.

Regarding his own political standing, the former governor dismissed suggestions that his support base has waned. Instead, he claimed his following has expanded as more Nigerians reassess their previous political choices in light of the current economic downturn.

During the discussion, Obi also addressed his political alignment with former Kano State Governor Rabiu Kwankwaso. He defended the partnership, describing Kwankwaso as a leader deeply committed to human capital development and the welfare of the poor. Obi reiterated that his own vision for Nigeria remains rooted in prioritizing education and human infrastructure, which he identified as the primary drivers of sustainable economic growth for developing nations.