Peter Obi, the Labour Party’s presidential candidate in the 2023 election, has attributed Nigeria’s increasing poverty rate to a lack of competence in addressing the country’s economic challenges. Speaking at the 16th Annual Founder’s Day ceremony and 20th anniversary celebration of the American University of Nigeria (AUN) in Yola, Obi argued that while other countries have made significant progress over the past decade, Nigeria has only regressed due to ineffective leadership.
He emphasized that poor, incompetent, and unsympathetic governance has contributed to the nation’s economic downturn.
In his keynote address, Obi compared Nigeria’s economic performance with that of countries with similar populations and diversities. He pointed out that while nations like Indonesia and India have seen substantial growth in both GDP and per capita income, Nigeria’s economy has shrunk.
He highlighted that in 2014, Indonesia’s GDP was $890 billion with a per capita income of $3,475, India’s GDP was $2.39 trillion with a per capita of $1,560, and Nigeria’s GDP stood at $574 billion with a per capita of $3,200. By 2024, Indonesia’s GDP rose to $1.445 trillion, India’s GDP increased to $3.89 trillion, and Nigeria’s GDP plummeted to $220 billion with a per capita income dropping to $1,000. Additionally, while all these countries boast life expectancies above 65 years, Nigeria’s stands at 53 years.
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Obi stressed that for any country to make meaningful progress, its leaders must possess competence, capacity, compassion, and the ability to listen.
He further criticized the Tinubu-led administration for creating poverty and fueling the “Japa syndrome,” where Nigerians increasingly emigrate in search of better opportunities abroad.
At the event, AUN founder Atiku Abubakar expressed his satisfaction with the university’s achievements over the past 20 years, acknowledging that while progress had been made, more work remains to consolidate the gains.
He urged the university’s Board of Trustees to explore innovative ways of generating funds independently to ensure its sustainability, citing potential sources like alumni engagement, collaboration with government and NGOs, fundraising, research, and leveraging the agricultural sector.
AUN President DeWayne Frazier highlighted the university’s impact, noting that its graduates have gone on to succeed in global companies such as Google and Silicon Valley firms, while others have started successful businesses across Nigeria and beyond.