Former presidential candidate and Labour Party flagbearer, Peter Obi, has raised alarm over what he described as Nigeria’s “dangerous trajectory toward systemic failure,” citing widespread insecurity, economic deterioration, and governance challenges.
Speaking yesterday at a leadership summit in Lagos, the former Anambra State governor painted a grim picture of the nation’s current state, pointing to soaring inflation figures, unprecedented unemployment rates, and the mass exodus of skilled professionals from the country.
What we are witnessing is not merely a temporary economic downturn, but the systematic erosion of our national foundations,” Obi stated during his keynote address. The indicators are clear and present when citizens can no longer afford basic necessities, when our youth see no future within our borders, when insecurity becomes normalized these are signs of a nation at a critical crossroads.
According to data from the National Bureau of Statistics, inflation hit 35.2% last month, while the naira continues to face pressure in both official and parallel markets. Economic analysts have noted that these challenges have been exacerbated by policy inconsistencies and implementation gaps.
Obi emphasized that the situation, while dire, is not beyond redemption. Nigeria possesses immense human and natural resources that, if properly harnessed through transparent and accountable leadership, can transform our narrative from one of crisis to opportunity, he asserted.
The former banker and businessman outlined several pathways to national recovery, including institutional reforms, investment in education and healthcare, and aggressive diversification of the economy away from oil dependency. He also called for a new national consensus that transcends partisan interests.
Minister of Information and National Orientation, Mohammed Idris, responded to Obi’s comments, acknowledging the challenges but maintaining that the current administration has implemented comprehensive policies aimed at stabilizing the economy and addressing security concerns.
The President’s economic management team is fully aware of the difficulties faced by ordinary Nigerians and has introduced measures including the Strategic National Stabilization Plan to address these issues,” Idris stated during a press briefing in Abuja.
Political analysts view Obi’s intervention as significant given his growing influence in the national conversation about governance and economic management. Professor Ibrahim Mohammed of the Center for Democratic Studies described Obi’s comments as “a timely intervention that resonates with the lived experiences of many Nigerians.
Development experts have corroborated aspects of Obi’s assessment, pointing to the World Bank’s recent economic update on Nigeria, which highlighted vulnerabilities in the country’s fiscal position and recommended urgent structural reforms.
Despite the sobering analysis, Obi struck an ultimately hopeful tone, emphasizing that with the right leadership approach and citizen engagement, Nigeria could overcome its current challenges and realize its potential as Africa’s true giant.
What we need now is not despair but determined action,” he concluded. “Our history shows that Nigerians are resilient, innovative, and capable of extraordinary achievements when united by common purpose.
The former presidential candidate’s remarks have sparked renewed debate about the state of the nation and potential pathways to sustainable development, with social media platforms buzzing with discussions under the hashtag #RebuildingNigeria.
