Former Governor of Anambra State and Labour Party (LP) candidate in the February 25, 2023 presidential election, Mr. Peter Obi, has warned that the Nigerian economy is getting no better, saying all indices point to a worsening socio-economic situation in the country, despite the government’s protestations of improvement.
Obi issued the stark warning about the nation’s economy after a visit to the Kaduna International Trade Fair on Wednesday, February 19, describing the once vibrant trade exhibition in the northern heartland State as a shadow of its former self.
In a post on his verified X account, Obi described the fair as a “shadow of its former self,” a far cry from its once vibrant state.
Obi, who disclosed that he had attended the fair several times in the last 20 years, said he noticed a conspicuous absence of multinational corporations and general decline in participation at the fair, contrasting the fair’s current state with what it used to be when securing a booth or hotel room required months of advance planning.
“What I saw was twofold,” the first two-term Governor of Anambra wrote. “Based on my interactions, I observed an economy in decline. The trade fair was a shadow of its former self, with multinational corporations conspicuously absent.”
According to Obi, the Kaduna Trade Fair, which was once a significant contributor to the national economy, is now struggling, reflecting a broader economic downturn.
He attributed the decline to a lack of emphasis on production and a failure to support small and medium-sized businesses (SMEs), urging the Tinubu government to implement policies that prioritise production over consumption, citing successful economic models in Indonesia, Bangladesh and India.
Emphasising the importance of prudent leadership, strategic economic planning and a commitment to business-friendly policies in revitalising Nigeria’s economy and reclaiming the country’s position as Africa’s leading commercial hub, Obi surmised: “A New Nigeria is POssible!”
