Peter Obi Critiques World Bank's Economic Outlook for Nigeria

On October 12, 2026, Peter Obi, the former Governor of Anambra State and presidential candidate of the Nigeria Democratic Congress, challenged the World Bank's assessment of Nigeria's economic performance. He stated that the World Bank's upward revision of Nigeria's GDP growth outlook, projected at 4.3% for 2026, does not align with the economic hardships faced by millions of Nigerians, including persistent poverty, unemployment, and declining living standards.

Obi emphasized that economic progress should be measured by improvements in household welfare, particularly in reducing poverty and inequality, and creating job opportunities for youth. He criticized the government's focus on rising revenue and foreign reserves, arguing these metrics are meaningless without tangible improvements in access to essential services.

Obi called on the Federal Government to prioritize policies that enhance citizens' welfare rather than relying solely on favorable economic statistics. The World Bank's October 2026 Africa Economic Update noted Nigeria's stronger growth prospects due to improved economic conditions and investor confidence, but cautioned that this growth is insufficient to significantly reduce extreme poverty or create enough jobs.