Ismail Abdulazeez Mantu Reporting
Peter Obi, the Labour Party’s presidential candidate in the 2023 election, has taken another swipe at the All Progressives Congress (APC)-led government, criticizing President Bola Tinubu’s handling of Nigeria’s economy while surprisingly commending former military ruler, General Ibrahim Babangida.
Speaking at the launch of Mr. Babangida’s book on Thursday at the Transcorp Hilton, Abuja, the former Anambra State governor lamented Nigeria’s economic stagnation, arguing that the country had failed to make meaningful progress since the IBB era.
“Using our contemporary peers as a benchmark, when IBB left office in 1992, countries like Bangladesh, India, Vietnam, and Ghana were all in the low Human Development Index (HDI) category—just like Nigeria,” Obi stated. “Today, however, these nations have advanced to medium and high HDI levels, while Nigeria remains in the low HDI category, having either stagnated or declined.”
Mr. Obi, known for his scathing critiques of the APC administration, further noted that the phrase “Rien n’a changé” (French for “Nothing much has changed”) aptly described Nigeria’s economic struggles, adding, “In the case of Nigeria, we are worse off than we were during IBB’s era.”
The former governor also acknowledged Babangida’s role in shaping Nigeria’s financial sector and fostering entrepreneurship. “His contributions to Nigeria’s economy and his strong support for private sector growth remain immeasurable,” he said. “Under his leadership, Nigeria witnessed substantial growth, particularly in the financial sector. He played a key role in fostering a united and equitable economic landscape.”
Since finishing third in the 2023 presidential election, Mr. Obi has remained a vocal critic of the Tinubu administration, frequently challenging its policies and insisting that he was the rightful winner of the poll.