Former presidential candidate, Peter Obi, on Tuesday warned that Nigeria is drifting into deeper trouble, pointing to rising poverty, growing debt and worsening insecurity as signs that life is becoming harder for millions.
According to him, pressure is building across the country, key economic decisions are not easing the strain, and without urgent action, things could get significantly worse.
Obi spoke at the African Democratic Congress (ADC) National Convention in Abuja.
“Our country is collapsing, and if we allow it to go further, it will be worse,” he said.
He pointed to security as one of the clearest warning signs, saying Nigeria’s position in global terrorism rankings has worsened since the current administration took office.
“If you check the indices today, when the present government came into being, Nigeria, in terms of terrorism, was ranked No. 8; today we are No. 4. So if you give it another four years, we will be No. 1, and that is definite,” Obi said.
On the economy, he said the situation has deteriorated sharply, with millions more Nigerians pushed into poverty.
“When this government came into being, our poverty rate was 41.6 per cent, about 80 million people. Today, we are at 63 per cent, about 140 million. So they have almost doubled that,” he said.
He also questioned one of the government’s biggest policy moves, the removal of fuel subsidy, arguing that it has failed to deliver its core promise of reducing borrowing.
“The reason it was removed was to stop borrowing to service it and to use the resources to develop the country. But today, the previous administration left a debt of ₦87 trillion; today, we are at about ₦200 trillion. So they have increased borrowing by over 130 per cent. That is not subsidy removal,” he said.
Beyond the macro figures, Obi said the impact is showing up in stalled projects and unpaid obligations, raising fresh concerns about development.
“This government is owing contractors. Projects from 2020 to 2023 have not been funded. So we have huge debt, we have borrowed more, and everything points to the fact that we are heading towards disaster,” he said.
He also warned that the country’s deepening divisions could make the situation even more fragile if not addressed.
“We need to work as a united Nigeria for the sake of Nigeria. The country is so divided; we need unity. The present government has ensured that we remain more divided. Our unity is important,” he said.
He warned that the cost of inaction would be far-reaching..
“We all have to work hard. We must do whatever is possible. Anarchy consumes everybody. If we do nothing, the consequences will come back to haunt us and our children,” Obi said.
