‘President Tinubu Has Kept His Promise’ Says Peter Obi Amid Economic Downturn

Peter Obi, the 2023 presidential candidate of the Labour Party, has delivered a pointed critique of President Bola Tinubu’s administration, asserting that Tinubu has faithfully followed through on his campaign pledge to pick up from where his predecessor, President Muhammadu Buhari, left off.

In an interview with Arise TV, Obi acknowledged Tinubu’s commitment to continuity with Buhari’s policies. “President Tinubu has kept to his campaign promises,” remarked Obi. “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.”

Obi proceeded to outline the economic challenges that have intensified under Tinubu’s leadership. He highlighted significant declines in the value of the Nigerian naira, citing an alarming increase in the exchange rate from N460 to N1,500 against the dollar. Additionally, Obi underscored steep rises in the prices of essential commodities such as fuel, diesel, rice, and garri, significantly impacting the cost of living for Nigerians.

“The economic indicators speak volumes,” Obi emphasized. “Since Tinubu assumed office, a bag of rice, for instance, has soared from between N30,000 and N35,000 to approximately N80,000. Garri prices have nearly doubled, and our national debt has surged beyond N100 trillion.”

Obi also expressed deep concern over Nigeria’s economic downgrade from Africa’s largest economy to the fourth largest under Tinubu’s tenure. He criticized escalating insecurity, corruption, and nepotism as indicators of the administration’s failures.

In response to criticisms, Minister of Information Mohammed Idris defended the government’s policies, suggesting that many Nigerians were unaware of the benefits and opportunities available. However, Obi’s remarks underscore a growing discontent among Nigerians grappling with mounting economic hardships amidst controversial government decisions.

President Tinubu recently marked his first year in office amid widespread dissatisfaction over his administration’s economic policies, including the removal of fuel subsidies and the floating of the naira. These measures have drawn both praise and concern from economic experts and international bodies regarding their long-term impact on Nigeria’s economic stability.