Peter Obi faults Tinubu over US warning on Nigeria’s investment climate
The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has criticised President Bola Tinubu’s administration over The post Peter Obi faults Tinubu over US warning on Nigeria’s investment climate…
Peter Obi, the Labour Party's 2023 presidential candidate who now flies the flag of the Nigeria Democratic Congress (NDC) ahead of 2027, has remained one of the most vocal critics of the Tinubu administration's handling of the economy, frequently citing inflation, exchange rate volatility and investor confidence as measures of governance failure. His latest broadside follows a US government report flagging risks for investors doing business in Nigeria, a document typically produced to guide American companies on issues such as regulatory unpredictability, insecurity, foreign exchange restrictions and ease-of-business concerns.
Such US State Department or Commerce Department investment climate statements are routine and cover many countries, but they carry weight in Nigeria because they can influence foreign direct investment decisions at a time the government is courting capital inflows to shore up the naira and diversify revenue away from oil. Obi's intervention adds to a long-running political argument over whether Tinubu's reforms, including subsidy removal and currency unification, have improved or worsened the business environment; the coverage so far does not detail the specific findings of the US report or the government's response.