Peter Obi, the presidential candidate for the Labour Party (LP), has said that the privileged rule Nigeria.
In a lecture he gave on Monday at the Chatham House in London, Obi made the claim.
Many lives and assets have been lost as a result of the “alarming insecurity” in the most populous black nation, he added.
Obi also noted the recent drop in food production and economic output.
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He lamented the “immense anguish” that had harmed “communities’ mental health and fostered disenchantment with the Nigerian idea.”
“The economy is in crisis with a troubling debt profile worsened by oil theft of a proportion hard to imagine.
“Two economic recession in six years and a lamentable power sector significantly constrain manufacturing and social life.
“The Nigerian state is captive to an elite gang up and a rentier economy that concentrated power in the hands of those who came to influence mainly through their contrivances rather than affirmation of the people,” he said.
The 51-year-old flagbearer emphasized that such leaders are not motivated to serve the populace.
Obi accused politicians of manipulating ethnic and religious sensitivities in order to gain power.
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He said, “The people on whose sentiments they grab power often become the primary victims of such political fall that has rendered Nigeria a failing state with worsening leadership crisis.”
Nigeria has overtaken India as “home for the biggest pool of absolute poor in the world though they are seven times our population”, Obi fumed.
The LP candidate told the gathering that although the poverty rate in India is 16%, it is 63% in Nigeria.
He called the situation “unacceptable,” pointing out that 133 million people are classed as multidimensionally poor.
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