Former Labour Party presidential candidate, Peter Obi, has accused the Bola Tinubu administration of failing to effectively implement economic policies, warning that the country’s rising debt and poor productivity are worsening economic hardship.

Speaking in an interview on Arise News Prime Time on Tuesday, the former Anambra State governor criticized the administration’s decision to float the naira without boosting production. He also expressed concerns over Nigeria’s ballooning debt profile, stating that the cost of debt servicing now exceeds budgetary allocations for critical sectors like health and education.

“I Would Have Made a Difference in Two Years” – Obi

Obi argued that if he were president, Nigeria would have seen drastic positive changes within two years through investments in productivity.

“The President that is there today has been in office for two years, and look at where we are. That means you can change things in two years,” Obi said. “If I were there, you would have seen considerable change in critical areas. I would tackle corruption head-on and reduce the cost of governance. Borrowed money would be invested in critical sectors.”

The former governor further criticized the country’s high interest rates, stating that businesses are struggling to survive due to borrowing costs exceeding 40%.

“How can you do business when the interest rate is that high? We have a country in huge debt—this administration met a debt of about N17 trillion; in two years, it has moved to over N170 trillion. Our primary healthcare centers are failing, and I would have prioritized fixing them along with primary education,” he added.

On Labour Party Crisis and Political Alliances

Amid speculations about his political future, Obi reaffirmed his commitment to the Labour Party (LP) but blamed the internal crisis on external interference.

“The disarray in the LP is caused by the Federal Government. Yes, I am in the Labour Party, and if anything changes, I will let you know,” he said.

He also confirmed ongoing discussions with opposition figures, including former Vice President Atiku Abubakar, about forming a political alliance for national interest.

“We are talking about working together for the sake of the country. I am not desperate to be President, but I am desperate to see Nigeria work,” Obi emphasized.

Criticism of Government’s Handling of Democracy and Opposition

Obi accused the Tinubu administration of intimidating opposition voices, restricting press freedom, and undermining democracy.

“There is no democracy without a functional legislature and an independent judiciary. People are being detained for expressing their opinions, and I am also harassed every day,” he said.

He also condemned the political crisis in Rivers State, arguing that governance should not be weaponized for political gain.

“What happened in Rivers was unfortunate. A state of emergency impacts negatively on the little democracy we have left. The Nigerian political space is designed to suppress opposition,” he stated.

Comparing Nigeria to South Africa, Obi pointed out that the latter allows opposition parties to thrive through proportional representation in the legislature, ensuring political balance.

“In South Africa, if you defect from your party, you lose your seat. That is why we need a constitutional amendment to build a viable democracy,” he added.

On 2027 Presidential Election: “Saving Nigeria First”

While Obi did not explicitly declare his candidacy for the 2027 presidential election, he emphasized that his focus is on saving Nigeria rather than merely winning power.

“I am reluctant to talk about 2027. Yes, I am part of the coalition discussions, but any alliance must be about the future of Nigeria, investing in education, and rebuilding the economy—not just about seizing power,” he stated.

Obi’s remarks come amid growing economic concerns and political uncertainty in Nigeria, as debates on governance, reforms, and potential alliances continue ahead of the next electoral cycle.