The presidential candidate of the Labour Party (LP) says Nigeria qualifies to be called a failed state.
In his speech to the 62nd edition of the Nigeria Bar Association (NBA) Conference, Peter Obi pointed to three indicators to support his stance.
“Number one is when you’re no longer in charge of your territory. Today, we are among the top terrorized countries (of) the world,” he said.
“We are among the top kidnapping countries (of) the world. Bandits have taken over some parts of this country.
“Nigerians are being killed daily. All forms of criminality are going on daily.
“Even our most important source of foreign revenue – oil – is today 80% stolen. That shows how bad it is.
He pointed out that Nigeria lost more than $2 billion to oil thieves in July 2022.
The LP presidential candidate also said Nigeria had nosedived economically.
“Number two item to show that we’re a failed state is that you’re no longer in control of your economy,” he continued.
“Today, we have an economy where we have over 100 million people living in poverty. Your unemployment is one of the worst in the world because you have combined unemployment and underemployment of 50%.”
Mr. Obi also said Nigeria was in a “total” fiscal mess.
“Between January and April this year, the total revenue of the Federal Government of Nigeria is N1,620,000,000,000 (N1.62 trn); their expenditure is N5,720,000,000,000 (N5.72 trn). If you minus this, we have a deficit of N3,100,000,000,000 (N3.1 trn). That shows almost 200% deficit.”
He blamed Nigeria’s problems on the “cumulative effect of leadership failure over the years.”
He added that the country needs a “visionary, articulated, competent leadership” to turn things around.
He also enjoined Nigerians not to be swayed by tribe, religion, connection, and entitlement but to go for “character, competence, capacity, and commitment to deliver” when voting in the 2023 Presidential Election.
