Former Labour Party presidential candidate, Peter Obi, has accused successive Nigerian leaders of betraying the vision of the nation’s founding fathers, blaming decades of leadership failure for the country’s socio-economic decline.
In a broadcast to Nigerians on Wednesday to mark the nation’s 65th Independence Anniversary, Obi lamented that Nigeria, once heralded as an emerging African economic and political powerhouse at independence in 1960, has fallen short of its promise due to misgovernance.
The former Anambra State governor recalled that Nigeria’s founding fathers fought for independence with confidence and determination to build a prosperous country capable of standing shoulder to shoulder with the world’s most advanced nations. He noted that international publications, including Time Magazine, once projected Nigeria as a future African superpower.
“Sadly, this vision has been betrayed by leadership that enriches a few while impoverishing the majority of citizens,” Obi said.
Highlighting Nigeria’s economic trajectory, Obi pointed out that by the end of 2007, the country’s total debt stood at about N2.5 trillion — only 10 percent of GDP — after President Olusegun Obasanjo’s administration secured debt forgiveness of over $30 billion.
He further recalled that by 2014, Nigeria had become Africa’s largest economy and was primed to achieve middle-income status before poor governance derailed its progress.
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