• About Us
  • Privacy Policy
  • Contact Us
  • Advertise With Us
  • Home
Metrowatchonline
Sunday, June 1, 2025
  • Home
  • News
  • Security
  • World
No Result
View All Result
  • Home
  • News
  • Security
  • World
No Result
View All Result
Metrowatchonline
No Result
View All Result
Home POLITICS

From Africa’s Best Economy in 2014, Nigeria Now 4th — Peter Obi laments worsening poverty and unemployment | METROWATCH

For the past 9 years, Nigeria's economy has seen unprecedented retrogression on many fronts, Obi said

Publisher by Publisher
July 22, 2024
in Business, Highlights, POLITICS, Top News
0
Obi Lauds Tinubu on N1.1Tr Largesse to Governors, Advises on How Best to Apply it | METROWATCH

*FILE: Peter Obi, Presidential candidate of the Labour Party, speaks during an interview with Reuters at his residence in Lagos, Nigeria August 18, 2022. REUTERS/Temilade Adelaja - RC25ZV9P9LYD

*The infographics…
*The infographics…2

(PRESS RELEASE)

The Labour Party Presidential Candidate in the 2023 poll, Mr. Peter Obi, has taken a hard look at the Nigerian economy in the last nine years of APC administration and laments that it has been retrogression all through.

Writing on his X handle on Monday with statistics, Obi said that no effort is being made to address the growing poverty and unemployment in the land as the government fund its luxury lifestyle.

“When Nigeria returned to democratic governance in 1999, it maintained an average GDP growth of about 6.72% for 16 years from 1999-2014.

ALSO READ...

I’m Loyal to Tinubu, Says Reno Omokri

Kano Sports Contingent Accident Devastating, Says Tinubu

“The impressive growth trajectory, unfortunately, was not sustained by the then-new government and our GDP growth collapsed to 2.79% in 2015 and then recession in 2016 with a negative growth of -1.58% and 0.82% in 2017.

“For the past 9 years, Nigeria’s economy has seen unprecedented retrogression on many fronts. In 2014, just before the inception of a new administration a year later, Nigeria had the biggest economy in Africa with a Gross Domestic Product of $568.5 billion and a GDP Per Capita of about N3200.

“Our economic indices pointed towards hope and prospects for the future growth of the economy.

“Nine years later, the giant of Africa has retrogressed to the 4th largest economy in Africa. Reports showed our GDP in 2023 stood at $375 billion with a per capita of $1700.

“In 2024, our estimated GDP declined further to $253 billion with an estimated per capita of $1087. This portrays how our 9 years journey since 2015 has resulted in a sharp decline in our national prosperity.

“Today, poverty is on the increase. Unemployment is rising. Food inflation is skyrocketing.

“Our foreign and local investors are losing faith in the future growth of our economy and are leaving. Businesses are shutting down. Urgent actions need to be taken to salvage the nation from further collapse and move it from consumption to production!

“However, instead of concerning ourselves with all these challenges threatening our collective existence, and finding ways to recreate an inclusive and sustainable economy, pull millions of people out of poverty, and return our over 18 million out-of-school children to schools, our leaders are more concerned with funding their selfish luxuries and individual lavishness, while throwing blames at others who are only committed to solving the nation’s problems.

“I have always believed that politics should be about service to the people and the betterment of society.

“In the face of all these challenges, we the leaders should commit to inclusive and sustainable growth to end the hardship which has continued to burden our fellow Nigerians. Only through that can we achieve a peaceful and secure society.

“A New Nigeria based on better economic and patriotic thinking is POssible.”

 

E-Signed:
Yunusa Tanko
POMR SPOKESMAN
July 22, 2024

Tags: Nigerian EconomyPeter ObiPresident Bola Tinubu
Previous Post

Zulum Appoints Usman Aliyu as DG, Borno State Agency for Great Green Wall | METROWATCH

Next Post

REPORT | How Plateau is Boosting Essential Drugs Supply, By Mani Imman | METROWATCH

Publisher

Publisher

Related Posts

Peter Obi

Children’s Day: Peter Obi Urges Better Care for Nigerian Children

May 27, 2025
2027: Peter Obi Says ‘Nigeria’s Problem Can be Solved from the North’

Why I May Not Contest after 2027, Says Peter Obi

May 26, 2025
2027: Peter Obi Says ‘Nigeria’s Problem Can be Solved from the North’

2027: Peter Obi Says ‘Nigeria’s Problem Can be Solved from the North’

May 25, 2025
peter obi

2027: Peter Obi Declares Presidential Race under Labour Party Platform

May 24, 2025
peter obi

2027: Bring Peter Obi Back into Your Fold — Sowunmi tells PDP

May 24, 2025
peter obi

Peter Obi Decries ‘Relentless Scene of Corruption in Nigeria’

May 21, 2025
Next Post
Plateau Agog as Supreme Court Affirms Mutfwang Governor | METROWATCH

REPORT | How Plateau is Boosting Essential Drugs Supply, By Mani Imman | METROWATCH

  • About Us
  • Privacy Policy
  • Contact Us
  • Advertise With Us
  • Home

© 2024 Metrowatch Online Published by Miraculous Media Connect Limited. All rights reserved

No Result
View All Result
  • Home
  • News
  • Security
  • World

© 2024 Metrowatch Online Published by Miraculous Media Connect Limited. All rights reserved

Go to mobile version