IMPI criticizes Peter Obi’s economic proposals, defends Tinubu’s policies

By Kunle Sanni

The Independent Media and Policy Initiative (IMPI) has dismissed the economic proposals of Peter Obi, the Labour Party’s 2023 presidential candidate, calling them simplistic and misleading.

In a statement issued on Thursday, IMPI criticized Obi’s recent remarks during a television interview, where he accused President Bola Tinubu’s administration of economic mismanagement.

The group argued that Obi’s suggestion of injecting money into productivity as the primary solution to Nigeria’s economic challenges showed a lack of understanding of the country’s fiscal realities.

IMPI defended the Tinubu administration’s economic policies, particularly the removal of fuel subsidies and the unification of exchange rates, asserting that these measures were necessary to stabilize the economy.

The organization pointed to recent economic data, including a record trade volume of ₦138 trillion ($89.9 billion) in 2024, and an increase in government revenue allocations, as evidence that the economy is improving.

The statement also addressed Obi’s criticism of high interest rates, explaining that monetary policy decisions are made by the Central Bank of Nigeria (CBN), not the executive arm of government.

Furthermore, IMPI challenged Obi’s claims about fixing healthcare and education, noting that these sectors fall under the jurisdiction of local governments.

Citing a recent World Bank assessment, IMPI maintained that Tinubu’s economic reforms are beginning to yield positive results, with improved fiscal health and rising foreign exchange reserves.