By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Times ReportersTimes Reporters
  • Home
  • News
  • Politics
  • Business
    • Economy
  • Sports
  • Entertainment
  • About Us
  • Bookmarks
Search
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Reading: Poor governance cause of Nigeria’s rapid economic decline – Peter Obi
Share
Sign In
Notification Show More
Latest News
Dignitaries, Industry Leaders Celebrate Unveiling of IBUAM, Africa’s First Private Aeronautics University
Education Metro News
Speaker to Wounded Soldiers: Nigeria Stands Firmly With You
Gender Metro News
APU Chairman calls for unity, peace after court victory in FCT
Metro News
Military Vows Clampdown on Wulowulo Terrorist Sect in North-Central
Defence Metro News
Businessman Ejiofor Decries Demolition of His N500 Million Mansion in Lagos
Uncategorized
Aa
Times ReportersTimes Reporters
Aa
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Search
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Have an existing account? Sign In
Follow US
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Times Reporters > Labour > Poor governance cause of Nigeria’s rapid economic decline – Peter Obi
LabourNewsPolitics

Poor governance cause of Nigeria’s rapid economic decline – Peter Obi

Publisher
By Publisher Published July 29, 2024
Share
2 Min Read
SHARE

The Labour Party presidential candidate in the 2023 presidential election, Mr. Peter Obi, has expressed his worry over the parlous state of Nigeria, especially the economy.

Obi asserted that the economy of Nigeria has undergone a rapid decline in the last decade.

He made the assertion on Saturday during the installation of Prof Au. Nnonyelu as the 8th District Governor of Rotary International, District 9142, in Awka.

He attributed Nigeria’s economic decline and other challenges the nation is facing to an acute leadership deficit.

“Despite Nigeria’s wealth of resources, the country’s global standing has declined, primarily due to poor governance.

“There is need for transformational leadership to address these issues and steer Nigeria towards a more prosperous future..

“There’s a worrying decline in Nigeria’s economic trajectory. In 1998, Nigeria’s economy grew at less than 3%, improving to over 5% in 2019. However, the country’s per capita income has plummeted from $3,200 in 2014 to $1,087 today.

“This economic downturn has resulted in Nigeria having the highest number of homeless people globally, with over 130 million Nigerians living below the poverty line, a figure that has worsened significantly over the past eight years.”

The former governor attributed these dire conditions to a legacy of poor leadership lacking in ethical, visionary, competent, and compassionate qualities. Obi warned of long-term consequences, such as the heavy burden of debt repayments starting in 2040, which will fall on future generations.

He criticized the government’s mismanagement, citing examples like overpriced contracts and a growing list of abandoned projects.

Obi also highlighted the rampant theft of Nigeria’s oil resources, drawing attention to the challenges faced by businesses like Dangote’s, with over 70% of Nigeria’s oil already mortgaged.

Like this:

Like Loading...

Related

You Might Also Like

Dignitaries, Industry Leaders Celebrate Unveiling of IBUAM, Africa’s First Private Aeronautics University

Speaker to Wounded Soldiers: Nigeria Stands Firmly With You

APU Chairman calls for unity, peace after court victory in FCT

Military Vows Clampdown on Wulowulo Terrorist Sect in North-Central

UBEC calls for inclusive education, promotion of sign language learning 

TAGGED: Labour Party

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Publisher July 29, 2024
Share this Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Copy Link Print
Share
Previous Article Commonwealth Secretary-General visits Pakistan
Next Article Journalists cannot ignore imperatives, dangers of social media, says EU
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe
Telegram Follow

– Member of –

- Advertisement -
Ad imageAd image

Latest News

Dignitaries, Industry Leaders Celebrate Unveiling of IBUAM, Africa’s First Private Aeronautics University
Education Metro News October 18, 2025
Speaker to Wounded Soldiers: Nigeria Stands Firmly With You
Gender Metro News October 18, 2025
APU Chairman calls for unity, peace after court victory in FCT
Metro News October 18, 2025
Military Vows Clampdown on Wulowulo Terrorist Sect in North-Central
Defence Metro News October 17, 2025

You Might also Like

EducationMetroNews

Dignitaries, Industry Leaders Celebrate Unveiling of IBUAM, Africa’s First Private Aeronautics University

October 18, 2025
GenderMetroNews

Speaker to Wounded Soldiers: Nigeria Stands Firmly With You

October 18, 2025
MetroNews

APU Chairman calls for unity, peace after court victory in FCT

October 18, 2025
DefenceMetroNews

Military Vows Clampdown on Wulowulo Terrorist Sect in North-Central

October 17, 2025
Times ReportersTimes Reporters
Follow US

© 2024 Times Reporters | Deigned by AuspiceWeb Graphics. All Rights Reserved.

  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
Join Us!

Subscribe to our newsletter and never miss our latest news!

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?
%d