Cheecheemoo

Peter Obi: Do You Still Insist On Nigeria Emulating The Indonesian Economy On Monday, February 10, 2025, and several times afterwards, Mr. Peter Obi praised the Indonesian economy as a model for Nigeria and severely criticised His Excellency, President Bola Tinubu's handling of the Nigerian economy. Since that time, and as reported by several financial and economic publications, including the Financial Times and the Spectator Index, the Indonesian Rupiah has depreciated heavily against the US Dollar, losing almost 20% of its value, and going from Rp 16,173 to $1 in February of 2025, to Rp 18,063 to $1 today, Tuesday, June 9, 2026. Additionally, the Indonesian Rupiah was officially rated as Asia's "worst performing major currency" by Bloomberg, after it sank to a record low, forcing the Indonesian Central Bank to raise interest rates by 25 basis points to stop the free fall of its currency. Furthermore, Indonesia has experienced a quarter-on-quarter GDP contraction of -0.77% in the first quarter of 2026. In contrast, the Nigerian economy under His Excellency, Bola Ahmed Tinubu, GCFR, President and Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria, has experienced twelve uninterrupted cycles of GDP growth and trade surpluses. Added to this is the fact that the Nigerian Naira, which traded against the US Dollar at ₦1,565 to $1 on Monday, February 10, 2025, when Peter Obi criticised Nigeria and praised Indonesia, has increased in value by 12.1% and now averages ₦1,365 today. The Naira was also listed by FXTM as the second-best-performing currency in Africa for the first quarter of 2026, trailing only the Zambian kwacha. Meanwhile, the International Monetary Fund listed Nigeria as the sixth-largest contributor to global GDP growth in 2025. This is even as Anna Bjerde, the World Bank's Managing Director of Operations, said that "Nigeria is now frequently cited globally as an example of steady, credible reform leadership." This comes as Nigeria's economy has grown by $67 billion in two years, rising from a GDP of ₦269.29 trillion on May 29, 2023, when Asiwaju became President, to ₦372.8 trillion after the economy was rebased last year. So, my question to Mr. Peter Obi is this: Sir, do you still insist that Nigeria emulate the Indonesian economy? This is not an attack on the Republic of Indonesia, a great and proud nation, with which the Federal Republic of Nigeria enjoys an excellent relationship. The purpose of this is simply to inform Nigerians of the true state of their economy vis-à-vis what was said by Mr Peter Obi, a Presidential candidate in Nigeria, so that they can make a factual and honest assessment of Nigeria's economic well-being. Reno Omokri Ambassador Designate to Mexico