Former Anambra State Governor and 2027 presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has argued that Nigeria would be significantly wealthier if public officials protected government funds and allowed them to generate interest instead of mismanaging the nation’s resources.
Obi made the remarks during a radio interview in Nasarawa State on Wednesday, where he discussed public finance, accountability and his record in office.
The former governor said Nigeria could have accumulated substantial wealth if successive administrations had consistently preserved public funds in financial institutions rather than allowing resources to be wasted or diverted.
“I wish everybody in this country left money in the bank; they have interest. Nigeria would have been so rich that we don’t know what to do with money,” he said.
Obi disclosed that during his administration in Anambra State, government funds were kept in three different banks, describing the arrangement as part of his approach to managing public resources.
He also criticized what he described as a culture in which people who act honestly are often subjected to suspicion, while those accused of wrongdoing sometimes receive public support.
According to him, the country needs a stronger commitment to integrity and accountability if it hopes to overcome its economic difficulties.
Obi Defends His Approach to Governance
The NDC presidential candidate also explained why his administration did not place much emphasis on elaborate ceremonies and publicity when executing public projects.
He argued that government projects were funded with taxpayers’ money and that citizens should be able to see and assess the results without excessive promotional activities.
Obi further defended his record in basic education, insisting that his administration made significant progress in the sector during his time as governor.
He cited the involvement of education experts, including Oxford University professor Paul Collier, whom he said had visited several states to assess educational development and witnessed improvements in Anambra.
The former governor maintained that education remains a crucial measure of development and that responsible management of public resources should translate into tangible improvements in citizens’ lives.
Debate Over Public Savings and Spending
Obi’s comments have renewed discussions about how governments should manage public finances, including whether surplus funds should be saved, invested or channelled into infrastructure and essential services.
While financial reserves can provide governments with stability and generate returns, public accountability also requires transparency about savings, outstanding debts and spending on citizens’ needs.
Obi has previously defended claims that he left substantial savings in Anambra State at the end of his administration in 2014. However, aspects of his financial record have been disputed by critics, including the state government, making independent verification of the figures important.
His latest remarks come as political parties prepare for the 2027 general elections, with governance, corruption and economic management expected to remain prominent issues in the national debate.
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