Nigeria’s Economy On Life Support Over N22.7trn Debt, Peter Obi

Former governor of Anambra state, Mr. Peter Obi has warned that Nigeria’s economy is on life support following the unprecedented hike in the country’s debt profile.

Obi, who was speaking at the generation conference organised by the Summit Bible Church last weekend, stated that with the country’s debt put at N22.7 trillion and unemployment rate at 60 per cent, it will take a miracle for the country to survive unless people with proven experience in the management of resources are elected into leadership positions in the country.

He, therefore, pleaded with Nigerians to choose their leaders wisely during elections.
The former governor stressed that if 50 per cent of the country’s revenue is used to settle such debt, Nigerians will continue to groan.
He called on Nigerians to vote out people who lacked the technical know-how to revamp the economy and render good services.

“Our educational system is too low. Our per capita is $2000. And since your growth popula­tion is higher than the growth of your GDP the consequence in the future will be higher than what it is today.

“China adopted the Mil­lennium Development Goals when it was told that it had the poorest people in the world and it took over 400 million people out of poverty,” he said.
He expressed optimism that Nigeria will get it right some­day, emphasising that people who have ideas, capacity and have managed resources be­fore should be brought forward to change the poor narrative.

The convener of the pro­gramme, Andy Osakwe, chal­lenged youths to be active in politics. He said: “A lot of peo­ple tend to blame other people for the current state of our na­tion; it is time for us to take ownership of our condition and also our destiny.“Even though different generations have taken different positions as to who is responsible for the not-so-great status of Nigeria today, there is a consensus on the fact that Nigeria already has within its borders all that is required to become one of the most secure and prosper­ous countries in the world.”