Renowned businessman and Coscharis Group founder, Cosmas Maduka, has said that Peter Obi would not have made different economic decisions from the current administration if he had won the presidential election.

Speaking on the Mic On Podcast with Okinbaloye, Maduka stated that Nigeria is on the right path despite economic struggles. He explained that key decisions, such as removing fuel subsidies, were unavoidable for any leader.

“Would Peter Obi have done anything differently? No. He would have removed the subsidy from day one as well,” Maduka said.

Maduka acknowledged that high living costs and the falling value of the naira are tough issues. However, he stressed that the government must reinvest the money saved from subsidy removal into infrastructure projects.

He pointed out that if funds are used wisely, the economy will grow, even though some businesses that benefitted from the subsidy might struggle.

“If the government collects that money and puts it into ventures that benefit everyone, then there is progress,” he explained.

He also warned that if the funds are not directed into productive projects, the country will not move forward.

“If you move from one tomb to another, you are still in the same graveyard,” he said.

Maduka also spoke about Nigeria’s debt situation, explaining that borrowing is not necessarily a problem. What matters is how the money is used.

“The real issue is: Are we borrowing for capital and infrastructure development? Because that will repay itself. But if we borrow for things like poverty alleviation or unnecessary expenses, we are digging ourselves into a hole,” he said.

Maduka emphasized the need for financial discipline in governance. He urged the government to reduce wasteful spending and invest in projects that benefit citizens.

“There is a level of discipline required to control government excesses. Are we moving in the right direction? Yes,” he concluded.