Former Anambra governor, Peter Obi, has dismissed President Bola Tinubu’s claims of an improving economy, asserting that Nigeria’s economic situation has worsened over the past 18 months.

“The political, economic, and security situation of our country is worsening daily, despite the government’s claims of improvement in various sectors,” Mr Obi said.

Mr Obi, the Labour Party’s presidential candidate in 2023, made the remarks in his New Year message on Thursday, where he lamented rising insecurity, corruption, poverty, and inflation under Mr Tinubu’s administration.

“Nigeria remains one of the poverty capitals of the world, with over 100 million people living in extreme poverty and more than 150 million in multidimensional poverty,” Mr Obi said.

He added, “Nigeria is also one of the most insecure and least peaceful countries globally, with countless communities and families displaced from their homes and now living in internally displaced persons (IDP) camps. According to the Global Peace Index (GPI), Nigeria ranks 143rd out of 163 countries in terms of peacefulness – a clear indication of a high level of distress.”

Mr Obi’s message directly contrasts with Mr Tinubu’s New Year message, in which he claimed the country’s economy is improving.

“Foreign reserves have risen, and the naira has strengthened against the US dollar, bringing greater stability. The stock market’s record growth has generated trillions of naira in wealth, and the surge in foreign investment reflects renewed confidence in our economy,” Mr Tinubu said.

He added, “We are on the right path to building a great Nigeria that will work for everyone. Let us not be distracted by a tiny segment of our population that still sees things through the prisms of politics, ethnicity, region, and religion.”