In a sweeping critique marking President Bola Tinubu’s two years in office, former presidential candidate Peter Obi has painted a grim portrait of national decline, accusing the administration of plunging Nigeria into what he termed a “democratic recession” while accumulating unprecedented debt levels. The Labour Party leader’s comprehensive assessment, contained in a statement titled ‘Democracy in Decline: Reflecting on Two Years of Tinubu’s Governance’, presents a damning indictment across all governance indicators.
Obi revealed alarming economic data showing Nigeria’s GDP has halved from $364 billion to $188 billion since May 2023, with GDP per capita crashing from $1,640 to $835, while poverty rates have surged dramatically with about 129 million Nigerians now living below the poverty line and 75% of rural Nigerians living in poverty.
The former Anambra governor saved particular criticism for the administration’s borrowing practices, noting that despite trillions saved from fuel subsidy removal, the government has in just two years borrowed more than the administrations of Presidents Yar’Adua, Jonathan and Buhari combined, with public debt now approaching N188 trillion without corresponding infrastructure improvements.
The statement detailed catastrophic declines across social services including over 18.3 million out-of-school children (the highest global number), students taking exams by candlelight, only 20% of primary healthcare centers remaining functional, and Nigeria being ranked the world’s worst country for childbirth. The business sector has suffered equally devastating losses with approximately 7 million SMEs shuttered, over 80 manufacturers permanently closed including multinational giants like GlaxoSmithKline, and Nigeria now ranking among the world’s hungriest nations according to the Global Hunger Index.
Obi accused the government of manipulating narratives rather than delivering results, urging Tinubu to emulate past leaders who upheld democratic values and recommending the president redirect his frequent foreign trips toward domestic engagement, noting that a 72-day tour of Nigeria’s 36 states would prove more valuable than his 150 days abroad.
The statement concluded with a sober warning about rapid national decline across all sectors and the urgent need to end this era of impunity while restoring respect for the rule of law, setting the stage for intensified opposition scrutiny as Nigeria reaches the mid-point of Tinubu’s term amid growing economic hardship and security challenges.
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