Obi: Why Nigeria didn’t make IMF list of fastest growing African economies

Peter Obi, former presidential candidate of the Labour Party (LP), says Nigeria’s exclusion from the list of Africa’s fastest-growing economies should serve as a wake-up call for the country’s leaders.

On October 17, the International Monetary Fund (IMF) excluded Nigeria from the list of Africa’s fastest-growing economies.

The IMF listed Benin, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda as the fastest-growing economies on the continent in its Regional Economic Outlook report for sub-Saharan Africa, launched in Washington DC.

The report added that the region has demonstrated remarkable resilience to “a series of major shocks over the past several years”.

In a statement on Thursday, Obi said the countries ranked by the IMF were not wealthier than Nigeria in natural resources, but had surpassed it through discipline, effective leadership, and consistent investment in their people.

He said the countries have prioritised education, healthcare, and poverty reduction while maintaining fiscal prudence and stability.

“Our economy continues to suffer from poor policy choices, corruption, and waste,” Obi wrote on X.

“We must return to the basics — production over consumption, human capital over patronage, and governance over politics.”

The former Anambra governor said Nigeria possesses all it takes to not only join the ranks of Africa’s fastest-growing economies but to lead them.

He called for “competent and compassionate leadership” that treats governance as “a call to service, not as a transaction for the criminal acquisition of unearned wealth”.

Obi urged Nigerians to recommit to building a country anchored on transparency, productivity, and shared prosperity.

“With the right leadership and collective will, Nigeria can once again become the pride of Africa,” he said.

“If smaller nations can achieve growth through discipline and commitment to sound policies, then the giant of Africa must awaken.”