- Knocks FG, Says National Grid Collapsed 12 Times in 12 Months
By Kolawole Ojebisi
The presidential candidate of the Labour Party (LP) in the 2023 elections and former governor of Anambra state, Mr Peter Obi, has lamented the fall of Nigeria from the highest rung of the ladder as the largest economy in Africa.
Obi claimed that Nigeria now ranks fourth on the continent having fallen from a GDP of $574bn and a per capita income of over $3,500 in 2014.
The former governor of Anambra State spoke at a media chat on Thursday in Abuja that Nigeria needed selfless and exemplary leadership in 2025.
He said, “Our current GDP is less than 50% of what it was a decade ago, standing at approximately $200bn, with a per capita income of barely $1,000. Nigeria remains one of the most insecure and least peaceful nations in the world, with countless communities and families displaced from their homes and now living in IDP camps.
“According to the Global Peace Index (GPI), Nigeria ranks 143rd out of 163 countries in terms of peacefulness – an indication of a high level of distress,” he said.
The former governor of Anambra State stressed that instead of coming up with measures to improve on this shameful condition the present administration has resorted to bandying around false figures to conceal its ineptitude.
Obi said that Nigeria’s political, economic and security situation is worsening daily, contrary to the positions and claims by the present government.
“As we begin the New Year 2025, it has become imperative for me to speak to you as a Nigerian interested in the progress of the country. The political, economic and security situation of our country is worsening daily, despite contrary positions and claims by the government of improvement in different spheres of human endeavour.
“Our national challenges are visibly worsening. Our nation and its fortunes are in clear reverse. The indices are clearly indicative of our decline: our national indices tell a disconcerting story. Nigeria remains one of the poverty capitals of the world, with over 100 million people living in extreme poverty and more than 150 million in multidimensional poverty,” Obi said.
He said that the situation has deteriorated significantly over the past 18 months under the current administration.
Obi noted that food insecurity has become the new national norm, making Nigeria one of the hungriest countries in the world.
He also said that gainfully employed and middle-income Nigerians now spend nearly their entire incomes on feeding, with some even resorting to borrowing just to eat.
“For those living on the margins—low-income earners and the unemployed—the situation is even more dire. The newly approved minimum wage of N70,000 cannot afford a bag of rice or even half a bag of beans. As a result, many Nigerians go to bed hungry, while a significant number now rely on palliatives and charitable support.
“Tragically, this has recently led to several avoidable deaths. Nigeria’s ranking on the 2024 Global Hunger Index is 110th out of 127 countries, reflecting a critical level of hunger and food insecurity in the nation,” Obi said.
He lamented that Nigeria had earned the dubious distinction of being one of the countries with the largest number of people without access to electricity.
He said that in 2024, despite abysmal and unacceptable power generation and distribution, the frequency of national grid collapse increased significantly, with the grid failing 12 times in 12 months.
He said, “As a result, we are now mockingly referred to as the ‘generator country’. This persistent lack of adequate energy supply continues to hinder our national development.”
