The Labour Party Presidential aspirant for the 2023 elections has come out to express disapproval over the retrogression of the Nigerian economy which he claims has been in decline for the last ten years.
This statement was made via his X account where he claimed that the country has seen retrogressions on many fronts.
“ When Nigeria returned to democratic governance in 1999, it maintained an average GDP growth of about 6.72% for 16 years from 1999-2014. The impressive growth trajectory, unfortunately, was not sustained by the then-new government and our GDP growth collapsed to 2.79% in 2015 and then sank into a recession in 2016 with a negative growth of -1.58% and 0.82% in 2017. For the past 9 years, Nigeria’s economy has seen unprecedented retrogression on many fronts”
He said “ Our economic indices pointed towards hope and prospects for the future growth of the economy. Nine years later, the giant of Africa has retrogressed to the 4th largest economy in Africa. In 2014, just before the inception of a new administration a year later, Nigeria had the biggest economy in Africa with a Gross Domestic Product of $568.5 billion and a GDP Per Capita of about $3,200.”
The former governor of Anambra State maintained that poverty had become pervasive and on the increase and unemployment was rising with Food inflation skyrocketing to over 43%.
Peter Obi said that businesses were shutting down and called for urgent actions to be taken to salvage the nation from further economic collapse.
“Our leaders are more concerned with funding their selfish luxuries and individual lavishness while throwing blame at others who are only committed to solving the nation’s problems”. Obi said.
The former presidential aspirant ended the thread by insisting that he had always believed that politics should be about service to the citizenry and the betterment of society. He advised that leaders should commit to the growth of their people to bring an end to the hardship plaguing them people.
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