Labour Party (LP) presidential candidate, Peter Obi has stated that Nigeria is under the control of the elite.
Obi made the assertion on Monday in his speech at the Chatham House in London.
The “alarming insecurity” in the most populous black nation has caused loss of many lives and properties, he noted.
Obi also observed the consequential decline in food and economic output in recent years.
He decried “immense trauma” that has compromised “the mental health of communities and caused disaffection with the Nigerian project”.
“The economy is in crisis with a troubling debt profile worsened by oil theft of a proportion hard to imagine.
“Two economic recession in six years and a lamentable power sector significantly constrain manufacturing and social life.
“The Nigerian state is captive to an elite gang up and a rentier economy that concentrated power in the hands of those who came to influence mainly through their contrivances rather than affirmation of the people,” he said.
The 51-year-old flagbearer stressed that such leaders do not have the incentive to serve the masses.
Obi accused politicians of exploiting ethnic and religious sentiments to ascend to positions of authority.
He said, “The people on whose sentiments they grab power often become the primary victims of such political fall that has rendered Nigeria a failing state with worsening leadership crisis.”
Nigeria has overtaken India as “home for the biggest pool of absolute poor in the world though they are seven times our population”, Obi fumed.
While the poverty rate in India is 16 percent, that of Nigeria is 63 percent, the LP candidate told the audience.
Pointing out that 133 million people are classified multidimensionally poor, he said the “unacceptable” situation must change.