Former Labour Party presidential candidate, Peter Obi, has challenged President Bola Ahmed Tinubu over his recent claim that Nigeria’s economy has stabilised under his administration.
Tinubu, while receiving the Soun of Ogbomosoland, Oba Ghandi Afolabi Oladunni Olaoye (Orumogege III), alongside other traditional rulers, declared that his government’s bold economic reforms were yielding positive results. According to him, the economy has stabilised, revenue generation has improved, and foreign interest in Nigeria is growing.
He stated:
“Years of neglect, fake records, smuggling, and corruption denied Nigeria the revenue needed for progress. We also faced arbitrage trading of currency and the illusion of paper wealth. These actions undermined the economy’s integrity. With your prayers and patience, I am glad to tell you today that the economy is stabilised. The bleeding has stopped; the haemorrhage is gone; the patient is alive.”
Reacting in a statement, Obi said that if Tinubu’s claim is true, it must begin to positively impact the daily lives of Nigerians.
“The President has announced that our revenue target for the year has been achieved by August, which could indicate a stabilising economy. Congratulations, Mr. President. But if indeed the economy is stable, Nigerians must feel it. Borrowing should cease, outstanding contractors’ bills should be cleared, and critical underfunded projects must be financed,” Obi said.
He stressed that genuine economic stability is not measured by statistics but by improvements in essential services.
“True stability is seen in classrooms with proper facilities, in hospitals where citizens receive quality care, and in investments that pull people out of poverty,” he added.
Obi further urged that excess revenue over the next four months should be deliberately channelled into health, education, and poverty alleviation, with transparent, verifiable, and measurable outcomes.
“Anything less will mean that revenue growth has not translated into national growth. Nigerians deserve to see and feel the impact of this touted progress,” he concluded.
