Nigeria’s problem is leadership, not resources – Obi
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By Luminous Jannamike
Former Anambra State Governor Peter Obi has said Nigeria’s persistent economic decline is the result of leadership failure rather than a lack of resources, warning that the country has fallen far behind peers such as India, which has now overtaken Japan to become the world’s fourth-largest economy by nominal GDP.
Obi made the remarks in a statement issued on Monday, following IMF estimates for 2025, which show India’s GDP at about $4.187 trillion, slightly ahead of Japan’s $4.186 trillion, with India now setting its sights on overtaking Germany to become the world’s third-largest economy.
Drawing comparisons between both countries, Obi recalled that Nigeria once outperformed India on key economic indicators, citing World Bank data showing Nigeria’s nominal GDP per capita exceeded India’s in 2007 and again in 2015, before the trend sharply reversed.
According to IMF World Economic Outlook projections, India’s nominal GDP per capita is expected to rise to about $2,878 by 2025, while Nigeria’s is projected to decline to roughly $807, despite Nigeria’s vast natural and fiscal resources.
“Nigeria’s challenge is therefore not a lack of resources, but a failure of leadership and priorities.
“Despite significant subsidy savings, substantial revenue growth, and excessive borrowing (more than all previous governments combined from 1999 to 2023), Nigeria’s performance remains troubling,” he said.
Obi noted that combined government revenue between 2023 and 2025 is estimated at about ₦200 trillion (approximately $135 billion), yet critical sectors such as healthcare, education and poverty alleviation have seen no meaningful improvement.
Highlighting the impact on everyday Nigerians, Obi said worsening living conditions are evident across the country, with businesses struggling to survive and the cost of living continuing to soar.
“Businesses, particularly small and medium enterprises, are closing daily due to lack of support, electricity remains erratic and expensive, and the costs of basic necessities, such as rent, transport, and food, continue to rise beyond the reach of ordinary Nigerians.
“I continue to call for national unity to build a leadership consensus anchored on competence, compassion, and character. This leadership must prioritize the welfare of Nigerians and invest in essential areas such as healthcare, education, infrastructure, agriculture, and technology. It should also focus on cutting waste, reducing the cost of governance, and ensuring full transparency and accountability so citizens can track and assess national progress.
“Only through united collective action, transparency, and visionary leadership can Nigeria close the gap with nations like India and ensure that its wealth translates into prosperity, security, and opportunity for all citizens. The time for Nigeria to act, catch up, and reclaim its potential is now,” the ADC chieftain added.
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