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newsrida > Blog > Business > PDP Chieftain Urges Peter Obi to Reframe Nigeria’s Global Economic Narrative.
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PDP Chieftain Urges Peter Obi to Reframe Nigeria’s Global Economic Narrative.

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Last updated: April 25, 2025 10:32 pm
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PDP Chieftain Segun Sowunmi Urges Peter Obi to Reframe
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A leading figure in the Peoples Democratic Party (PDP), Segun Sowunmi, has urged former Labour Party presidential candidate Peter Obi to prioritize national interest and refrain from presenting analyses that may cast Nigeria in a negative light on the international stage.

This appeal follows Obi’s recent remarks during a visit to Johns Hopkins University in the United States, where he drew a comparative analysis of Nigeria’s economic performance since 1990 alongside that of China, Vietnam, and Indonesia. In a post shared via his X (formerly Twitter) account, Obi highlighted how all four countries were initially classified under the same Human Development Index (HDI) category in 1990, but over the years, Nigeria has declined while the others advanced.

Obi noted that from 1990 to 2025, China, Indonesia, and Vietnam had each progressed to the “high” HDI bracket, while Nigeria had slipped into the “low” category. He further cited data on GDP per capita to support his point, stating that while Nigeria’s figure stood at $556 in 1990—higher than China’s $317 and Vietnam’s $99—it has since fallen drastically behind. He claimed that Nigeria’s current GDP per capita is now just a fraction of the other three nations’, trailing behind Indonesia’s $5,000, Vietnam’s $4,400, and China’s $13,000.

Obi also addressed poverty rates, arguing that in 1990, Nigeria had significantly fewer people living in poverty compared to the others. However, he lamented that the current situation paints a bleak picture, with Nigeria now housing more impoverished citizens than China, Vietnam, and Indonesia combined.

In a rebuttal, Sowunmi criticized the comparative framework employed by Obi, describing it as overly simplistic and not fully reflective of Nigeria’s economic complexities. He emphasized the limitations of using standard global metrics like GDP and HDI to assess Nigeria, a nation with a massive informal economy that often escapes formal documentation.

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“Many of the figures being referenced do not account for Nigeria’s informal sector, which remains a critical part of our economy. Any analysis that excludes this dimension provides an incomplete picture,” Sowunmi stated.

He further urged political leaders to adopt a more constructive tone when speaking about national development, particularly on global platforms, stressing that while critiques are important, they should not erode confidence in the country’s potential.

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