Peter Obi, the Labour Party’s presidential candidate in the 2023 elections, has expressed concerns about Nigeria’s current socio-economic conditions, stating that the nation is in a worse state today compared to the era of former military president, Ibrahim Badamasi Babangida (IBB). Obi made these remarks on February 20, 2025, after attending the launch of IBB’s autobiography, A Journey in Service, in Abuja.
In his comments, Obi drew comparisons between Nigeria’s present state and its situation during IBB’s tenure from 1985 to 1993. He pointed out that countries such as Bangladesh, India, Vietnam, and Ghana, which were at similar low levels of Human Development Index (HDI) when IBB left office in 1992, have since advanced significantly. According to Obi, these nations have transitioned to medium and high HDI levels, while Nigeria has stagnated or even declined, remaining in the low HDI category.
Obi lamented that Nigeria’s economic growth has not kept pace with that of its peers, and he attributed this stagnation to a failure to effectively manage the country’s resources. “The economic growth we should have experienced over the years has been hindered by poor governance and mismanagement,” Obi asserted. His comments underscore his concerns about the nation’s development trajectory, particularly in comparison to other countries that were once on par with Nigeria.
Despite his criticisms, Obi did acknowledge the significant contributions IBB made to Nigeria’s economy during his presidency. He commended IBB for his efforts in fostering growth in Nigeria’s financial sector, as well as his support for entrepreneurship and private sector development. Obi recognized that under IBB’s leadership, the country experienced substantial economic growth, which included the implementation of policies that promoted national cohesion and development.
Obi’s remarks also extended to IBB’s role in shaping Nigeria’s political landscape. He praised the former military leader for his public acknowledgment that Chief MKO Abiola had won the June 12, 1993, presidential election. “This recognition was a crucial step towards national healing and unity,” Obi remarked. The June 12 election, widely considered a historic turning point in Nigeria’s political history, remains a symbol of the country’s ongoing struggle for democracy.
Obi emphasized the importance of reconciliation and the healing of historical wounds. “This admission is a key moment for progress, not just for the Yoruba people, but for the entire nation,” he added, pointing to the symbolic significance of IBB’s recognition in helping bridge political divides within Nigeria.
