Former Labour Party presidential candidate Peter Obi has accused the All Progressives Congress-led government of damaging the legacies of Nigeria’s founding fathers, insisting that the ruling party has diminished the country with its incompetent, divisive, and corrupt leadership.

In a statement to commemorate this year’s Independence Day, Mr Obi slammed the ruling APC for plunging many Nigerians into unprecedented hardship with its “brutal, revenue-driven policies”.

“Our founding fathers fought for independence with confidence, passion, and determination to build a prosperous Nigeria that would stand alongside the world’s most advanced nations. Unfortunately, tragic failures of leadership derailed this vision. Yet despite these setbacks, Nigeria has always shown resilience,” Mr Obi stated on Wednesday.

He added, “In 1999, we overcame military dictatorship and restored democracy, beginning a renewed journey toward prosperity, freedom, and justice. That journey helped us build Africa’s largest economy and strengthen democratic institutions. But over the last decade, under the APC’s incompetent, divisive, and corrupt leadership, Nigeria has been greatly diminished.”

Mr Obi further decried humongous borrowings under President Bola Tinubu’s administration, saying it has dragged Nigeria behind countries such as South Africa, Egypt, and Algeria.

“Today, the picture is bleak. Our total debt stands at about N175 trillion, nearly 50 percent of GDP, without any improvement in productive sectors. Nigeria has fallen to the fourth-largest economy in Africa, behind South Africa, Egypt, and Algeria. Our democracy is now described as undemocratic. In just one year, this administration pushed over 15 million Nigerians into acute poverty. Today, more than 150 million Nigerians lack access to basic healthcare, education, water, and sanitation. Nigeria now ranks among the lowest in the world on human development indicators,” the former Anambra governor explained.

Citing the purchase of controversial items such as presidential yachts and jets, the politician said the Tinubu government “taxes struggling citizens and small businesses heavily, while indulging in extravagance” without a hint of concern for the welfare of ordinary Nigerians.

The former governor complained that “billions are spent on new presidential jets, yachts, and luxury cars that cost more than the entire 2024 budget for primary healthcare”.

“The vice-president’s residence was renovated at a cost of N25 billion, more than the combined capital budgets of six major federal university teaching hospitals,” said Mr Obi. “Over N10 billion was allocated for car parks and canteens for the National Assembly, more than the capital budget of the Ministry of Science and Technology at a time when science is crucial to national growth.”

Mr Obi, however, pointed out that Nigeria’s potential for greatness remained despite the management of the present administration, charging Nigerians not to give up on the dream of a prosperous and secure nation.

“What we need is competent, compassionate, and committed leadership. Our priority must be prudent economic management, investment in human capital, the rule of law, and infrastructure development. We must mobilise our enormous natural resources to drastically reduce poverty and achieve rapid, sustained growth,” he noted.

The politician urged political leaders to reflect on the crises confronting the country, stressing that they must recognise the independence celebration as a moment to transcend personal interests, reject corruption and division, while embracing a new country where leadership is anchored in competence, compassion, and commitment.

“The current administration’s failures must not lead us to despair. They should instead fuel our determination to rebuild. Nigeria has the resources, talent, and resilience to become an industrialised nation in record time. With the right leadership, we can defeat terrorism, restore security, and guarantee Nigerians safe communities where enterprise and social life can thrive.

“We must end a system where leaders feast while the people starve, where politics enriches a few and impoverishes the many. The old politics must end, and a new politics of prosperity for all must begin,” Mr Obi advised.