The Democratic Front (TDF) has criticised Peter Obi, the presidential candidate of the Nigeria Democratic Congress (NDC), for dismissing the World Bank’s economic growth outlook for Nigeria.
In a statement signed by its chairman, Danjuma Muhammad, and secretary, Wale Adedayo, the group described Obi’s position as “ridiculous,” accusing him of routinely rejecting positive assessments of the Nigerian economy.
The statement read:
“We condemn, in the strongest terms, the intellectual absurdity displayed by the NDC presidential candidate in rejecting the World Bank’s recent economic growth outlook for Nigeria. His pedestrian argument is based on an unfounded premise.
“His exaggerated references to hardship and poverty in the country are not supported by facts. Rather, they appear to be politically motivated and contrary to the indicators of economic improvement and other factors considered by the World Bank in making its projections.
“It is spurious and misleading for a presidential candidate to dispute the World Bank’s economic outlook simply because it does not align with his position.
“The irony is that the same person is always quick to cite negative World Bank reports for political gain. Yet, he has chosen to ignore the confidence demonstrated by the bank’s decision to invest $500 million in Nigeria as part of efforts to unlock $5.79 billion in private financing.
“These actions show that the NDC presidential candidate lacks the knowledge required to manage a national economy—an irreducible qualification for any Nigerian president.
“Basic economic knowledge should have informed him that no bank, whether commercial or developmental, would invest in an economy that is stagnant or collapsing.
“Peter Obi’s repeated tirades and exaggerated claims about hardship and poverty are unfounded. President Bola Ahmed Tinubu has taken bold steps to reduce poverty in the country.
“The recent release of ₦758 billion to clear the pension backlog will go a long way towards lifting affected pensioners out of poverty. This is in addition to interventions such as NELFUND, CREDICORP, SMEDAN loans and the Renewed Hope Housing Programme, which are helping to mitigate poverty across Nigeria.
“We urge Nigerians to disregard Obi’s rhetoric and blatant distortion of facts. His recent dispute with the Anambra State Government over a public debt, which he denied, as well as his inability to explain the whereabouts of ₦2.13 billion in ecological funds he admitted receiving from the Federal Government shortly before leaving office as governor, raises serious questions.
“His recent BBC interview, in which he again claimed to have won the 2023 presidential election while admitting that he had no evidence to support the claim, further undermines his integrity and credibility.” The group added that Nigerians had sufficient reasons to reject Obi at the polls.