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By Lizzy Chirkpi
The Labour Party’s presidential candidate in the 2023 general election, Mr. Peter Obi, has expressed disappointment over Nigeria’s omission from the latest International Monetary Fund (IMF) report highlighting Africa’s fastest-growing economies, blaming the situation on poor leadership, corruption, and misplaced priorities.
In a post shared on X (formerly Twitter) on Thursday, Obi said he read the report “with keen interest” and could not help but reflect on Nigeria’s absence from the list of nations making remarkable economic progress on the continent.
“I have read with keen interest the recent IMF report listing Africa’s fastest-growing economies, and I cannot help but reflect on Nigeria’s absence from that list,” Obi wrote.
The IMF’s latest Regional Economic Outlook for Sub-Saharan Africa, released last week, listed Benin Republic, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda among the world’s fastest-growing economies, attributing their progress to sound fiscal reforms and macroeconomic stability.
Obi, however, noted that these countries are not richer than Nigeria in natural resources, but have become stronger and wealthier because of their discipline, good governance, and dedication to human capital development.
“They are growing their economies through investing in critical areas of development education, healthcare and pulling people out of poverty, while ensuring fiscal prudence and stability,” he said.
The former Anambra State governor lamented that Nigeria’s economy continues to struggle under the burden of poor policy choices, corruption, and waste, warning that the nation must return to the basics by prioritising production over consumption and merit over patronage.
“We must go back to where production triumphs over consumption, human capital over patronage, and governance over politics,” he said.
Obi also stressed that compassionate and competent leadership is essential for Nigeria’s revival, calling on leaders to rebuild a nation that values transparency, productivity, and shared prosperity.
“With the right leadership and collective will, Nigeria can once again become the pride of Africa. If smaller nations can grow their economy through discipline and commitment to clear policy direction, then the giant of Africa must awaken,” he stated.