The former Governor of Anambra State, Peter Obi, has said Nigeria needs urgent and patriotic efforts from all Nigerians to save it from total collapse.
Obi said this was as a result of cumulative leadership failure over the years.
He said the failure was manifested in many ways, including the mounting debt by the country and the practice of each state running to Abuja to share borrowed money.
“What we are experiencing today is because most of us leaders at various levels of government have not done the right thing over the years, and the situation continues till today,” Obi said.
The former governor bared his mind on Wednesday while speaking to the press after the public presentation of the book entitled: “Prime Witness,” written by a gubernatorial candidate in the last Anambra State election and Secretary to the Anambra State Government when he was in power, Oseloka Obaze, at the Nigerian Institute of International Affairs, Lagos.
He called for concerted efforts to stop the total collapse of the country.
To show how bad Nigeria has fared, Obi, by heart, compared it with countries of the world that witnessed the same development trajectories.
His words: “By 1980, Nigeria had a GDP of $141 billion, savings of $10.5 billion and per capita income of $870, compared with China that had a GDP of $341 billion, $10 billion in savings and per capita income of $193.
“Check the indices critically as we go to 2016, where China has moved from $341 billion to $11 trillion in GDP, while Nigeria just crawled from $141 billion to $420 billion!
“China also skyrocketed in savings from $10 billion to $3 trillion, while dear country that was above China moved from $10.5 billion to $30 billion.
“China moved from per capita income of $193 to $9,000, while Nigeria moved from $870 to $2,000.
“By comparison it’s pathetic and unacceptable!
“Let’s move to a smaller country like South Korea.
“In 1980, South Korea had $3 billion in foreign reserves (savings).
“They have no oil but they moved from that to $400 billion today.
“Remember our country moved from $10.5 to $30 billion.
“It’s the same pathetic tale all over.”
The former governor went further to draw comparisons from the expected new world growing economic group of countries christened MINT.
This comprises of Mexico, Indonesia, Nigeria and Turkey.
He said the world is expecting significant growth from these four countries.
Obi said: “Mexico, with a population of 130 million people has a GDP of $1.2 trillion; Indonesia with a population of 250 million people has a GDP of $1.0 trillion; Turkey with a population of 80 million people has a GDP of $880 billion.
“Nigeria with a population of over 190 million people has a GDP of $420 billion.
“Our GDP is not up to half of Turkey, which is least of the other three MINT countries.
“Comparing with savings, our dear country is even far further behind!”
Lamenting Nigerian’s mounting debt, Obi said: “By 2008, Nigeria’s debt of $32 billion was cancelled, every cent of it.
“Today, total debt of all our tiers of government is $22 trillion.
“Over $70 billion.
“And we have nothing to show for it.
“The debt being 20 per cent of GDP is not a threat.
“If the money was used for production and genuine investments…then great, no threat whatsoever, but worrisome if used for other purposes.
“Today, our country is using 60 per cent of her earnings to service debts, and that is very worrisome.”
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