By Tokunbo2

Copyright thesun

From Idu Jude, Abuja

National Leader of the Labour Party Mr Peter Obi has said that successive leadership failures dashed the dream and vision of Nigeria’s founding fathers.

Speaking in a special broadcast on Wednesday, October 1, to mark the nation’s 65th Independence anniversary, the 2023 Labour Party presidential flag-bearer noted that the prediction at independence in 1960, that Nigeria would become an emerging African economic and political power, was unfortunately derailed by leadership failures by successive administrations in the country.

He stated that Nigeria’s founding fathers fought for independence with confidence, passion, and determination to build a prosperous Nigeria that would stand alongside the world’s most advanced nations.

He also recalled that Time magazine had predicted a country that would rise to become a true African superpower and lead the continent with pride.

These visions, he regretted, were betrayed by leadership that enriches a few and impoverishes the majority of the citizens.

The former Anambra State governor, who stated that despite resilience when the country returned to civil democracy in 1999, resulting in Nigeria becoming Africa’s largest economy, has been diminished by the incompetence of the All Progressives Congress (APC)-led Federal Government over the last decade.

According to Obi, “by the end of 2007, our total debt was about N2.5 trillion, only 10 per cent of GDP, after President Obasanjo’s government secured debt forgiveness of over $30 billion.

“By 2014, Nigeria had become Africa’s largest economy and was primed to achieve middle-income status.

“In 2015, for the first time, a ruling party was defeated in a presidential election, marking another milestone for our democracy.”

He stated, however, that the picture presently is bleak, as the nation’s total debt now stands at about N175 trillion, which he said is nearly 50 per cent of GDP, without any improvement in productive sectors.

“Nigeria has fallen to the fourth-largest economy in Africa, behind South Africa, Egypt, and Algeria.

“Our democracy is now described as ‘undemocratic,’” Obi said, regretting that in just one year, the APC administration has pushed over 15 million Nigerians into acute poverty, while more than 150 million Nigerians lack access to basic healthcare, education, water, and sanitation.

“This number grows daily under an APC government that pursues brutal, revenue-driven policies while ignoring the welfare of its people.

“Nigeria now ranks among the lowest in the world on human development indicators,” he added.

He condemned the taxes the government imposed on Nigerians, the extravagance of the nation’s leaders, the government’s reckless borrowings, and the growing insecurity in the country.

Despite this mismanagement, Obi, however, said Nigeria’s potential for greatness is still achievable, which he said could happen with competent, compassionate, and committed leadership.

“Our priority must be prudent economic management, investment in human capital, rule of law, and infrastructure development.

“We must mobilise our enormous natural resources to drastically reduce poverty and achieve rapid, sustained growth.

“We should learn from nations like China, India, Indonesia, and Bangladesh, which have turned around their economies through disciplined leadership and people-centred policies.

“Nigeria too can rebound, but only if we exit the path of incompetence and fiscal irresponsibility,” he stated.