Peter Obi Reveals Real Reason Why More Nigerians Are Living in Poverty

Peter Obi Reveals Real Reason Why More Nigerians Are Living in Poverty

  • Labour Party's presidential aspirant, Peter Obi, has revealed that over 100 million unemployed Nigerians are the root cause of the country's poverty
  • Obi made this disclosure at a one-day international colloquium, tagged “What Do Nigerians Want?”, organised by Christ Church on Monday, June 13
  • The former governor of Anambra state noted that Nigeria services its debt with 90 percent of its revenue, adding that no country in the world survives such a situation

Port Harcourt, Rivers - Peter Obi, the presidential candidate of Labour Party (LP) has said that the unemployment of 100 million Nigerians is responsible for the high rate of poverty in the country.

The Nation reports that the presidential hopeful spoke at a one-day international colloquium in Port Harcourt on Monday, June 13.

Read also

Amid growing crisis, labour party dismisses Peter Obi’s exit talk

Peter Obi, 2023 elections, elections, Southeast, Labour Party, Anambra state
Peter Obi at a political meeting. Source: Bright Kelechi
Source: Facebook

The colloquium which was organised by Christ Church for the presidential candidates of different political parties is tagged, as “What Do Nigerians Want?”.

Obi's position

Obi stated that any country that turned its people into poverty would be faced with crises such as unemployment and insecurity.

PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app!

He said:

There is no way you will have 100 million people living in poverty and you will not have crises, we have more people living in poverty than China and Egypt combined, a population of about 1.5 billion.
There is no where you won’t have this crisis we are going through with 35 to 40 per cent unemployment rate. When compared to the 120 million people who are supposed to be working in Nigeria today, only 40 million are gainfully employed.
We have 80 million people who are supposed to be working in the country that are not working.

Read also

June 12: 5 major statements Buhari made in Democracy Day speech

The consequence is that we have a state but it is unproductive. Nigeria as a country is unproductive because when we talk about 80 million people that are not working, about 70 percent of them is made up of the youth in their productive age doing nothing and with so much tendencies.
The country is not doing anything, is not working. All the country is doing today is sharing. Everybody is looking for what to share."

Nigeria services its debt with 90% of its revenue - Peter Obi

Obi traced the root cause of the Nigerian crisis, saying that more than 90 percent of its revenue is being used to service debt, adding that no country or individual could survive with that.

He affirmed:

"Last year virtually all the money we spent was borrowed. The first five months of last year, our total revenue was N1.847trillion. We spent N1.802 trillion into servicing debt, so a total of 200million people were left with N45billion."

Read also

2023: Catholic priest sends back members without voters card

2023: APC to face strong opposition as Peter Obi and Kwankwaso plan ‘strong merger’ reports that Peter Obi of Labour Party (LP) and Rabiu Kwankwaso of the New Nigeria People's Party are said to be planning a merger ahead of 2023.

The spokesperson of the National Consultative Forum and LP, Yunusa Tanko made this disclosure during a recent interview.

Tanko who added that there is no crisis within the Labour Party presently noted the affairs of the party as crisis-free.

Peter Obi takes a trip outside shores of Nigeria on fact-finding mission

The 2023 presidential aspirant of the Labour Party, Peter Obi, on Tuesday, June 14, departed Nigeria to Egypt on a three-day visit.

Making his visit known on his Twitter account, the former Anambra state governor and 2019 vice-presidential candidate for the Peoples Democratic Party said his trip to Egypt is part of his detailed study of comparable countries to Nigeria.

Obi further stated that while in Egypt, he is expected to understudy various sectors of the Egyptian economy and how activities in the country can be replicated in Nigeria.


Online view pixel