Nigeria’s economy is on life support, says Peter Obi


Former Governor of Anambra State, Peter Obi, has said that the country’s economy is on life support because of a rising debt profile.

Obi said this on Saturday while speaking at a conference organised by the Summit Bible Church in Abuja.

The country’s debt profile is estimated at N22 trillion.

The ex-governor also attributed the high unemployment rate to bad governance.

Obi reportedly asked voters to weed out people who lack the technical know-how to revamp the nation’s economy.

“Our educational system is too low. Our per capita is 2000, and since our population growth is higher than the growth of our GDP, the consequences in the future will be higher than what it is today.

“China adopted the Millennium Development Goals (MDGs), when it was told that it had the poorest people in the world and it took over four hundred million people out of poverty,” Obi said. 

Obi said people with ideas and capacity should be brought on board to mange the country’s resources.

The Convener of the programme, Andy Osakwe, asked the youth to “take their destinies into their hands” by voting and presenting competent representatives.

“A lot of people tend to blame other people for the current state of our nation; it is time for us to take ownership of our condition and also our destiny.

“Even though different generations have taken different positions as to who is responsible for the not-so-great status of Nigeria today, there is a consensus on the fact that Nigeria already has within its borders all that is required to become one of the most secure and prosperous countries in the world.

“Therefore, it doesn’t matter if you were born in the 30s or in this millennium, as long as you are alive today; you have a responsibility to contribute towards making Nigeria great.

“While we may be disappointed with the present state of our nation, we must resolve together to rise above the mediocrity of the past, so that we can start moving forward to our place of glory,” Osakwe said. 

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