A political pressure group in Nigeria has criticized prominent opposition figure Peter Obi, describing his rejection of the World Bank’s latest economic growth forecast for the country as “ridiculous” and politically motivated.
The Democratic Front (TDF) issued a statement reacting to recent comments by Mr. Obi, the former presidential candidate, who had dismissed positive macroeconomic projections from the international lender.
In a statement signed by Chairman Danjuma Muhammad and Secretary Wale Adedayo, the group condemned what it described as a “display of intellectual absurdity” by the politician.”His exaggerated reference to hardship and poverty in the country are not validly based on facts, but a politically motivated gambit that is contrary to the indicators of economic improvement,” the statement read.
Clash over economic data
The World Bank recently projected Nigeria’s economic growth to reach 4.4% by 2027, backed by a $500m investment intended to unlock $5.79bn in private financing.
However, Mr Obi challenged the optimistic outlook, arguing that broader macroeconomic stability has not yet translated into better living standards, lower poverty rates, or increased employment for ordinary citizens. The TDF accused Mr Obi of selective engagement with international data, pointing out that while he regularly highlights negative reports to criticize the government, he rejects positive indicators when they conflict with his political narrative.”Basic economic knowledge should have informed the candidate that no bank—commercial or development—would put its money into an economy that is static or bleeding,” the group added.
Government interventions highlighted
Defending the administration of President Bola Tinubu, the group argued that bold economic measures and social intervention schemes were already cushioning living costs and mitigating poverty across the country. It highlighted recent government initiatives, including: the release of 758bn naira ($758m) to clear outstanding pension arrears, student loan schemes under the Nigerian Education Loan Fund (NELFUND), the Consumer Credit Corporation (CREDICORP) and small business loan initiatives and the “Renewed Hope” social housing scheme.
The group urged Nigerians to dismiss Mr. Obi’s rhetoric, bringing up past disputes involving the opposition leader—including claims regarding his tenure as governor of Anambra State and his continued assertions surrounding the outcome of the 2023 presidential election.
Background
Since taking office in May 2023, President Tinubu has introduced wide-ranging economic reforms, including the removal of a decades-old fuel subsidy and the devaluation of the naira. While international financial institutions have praised the long-term potential of these policies, they have led to sharp inflation and widespread public discontent, making the state of the economy a central political battleground ahead of upcoming general elections.
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