Peter Obi’s Bank Thriving Under Tinubu’s Economy – Reno Omokri

Responding To Peter Obi’s Claims That President Tinubu Has Destroyed Nigeria’s Economy

Peter Obi went on Arise TV to claim that President Tinubu has wrecked Nigeria’s economy. He also repeated that allegation on multiple other forums in Nigeria and abroad.

My question to Mr Obi is this: If President Tinubu has destroyed the economy, how come a bank in which you have substantial shares (about 10%) and were its former Chairman of the Board, ******** **** PLC, made a record-breaking pre-tax profit of ₦385.2 billion for the financial year ending December 2024, representing a 210% increase compared to the ₦124.3 billion recorded in the financial year ending December 2023?

This bank made more than three times the profit it made last year. How come? According to Fitch, the world’s number one rating agency, the health of an economy can be gauged by the health of its banking system.

And to those saying that ******** **** PLC made this money because of devaluation or inflation, the facts do not support your claim.

Between May 2024 and May 2025, the Naira appreciated. It has not depreciated. So, their profit did not increase because of the Naira’s depreciation.

Please fact-check me: The Naira crashed to ₦1700 to $1 on Monday, February 19, 2025, with the breasted hermaphrodite on Arise TV mocking that we would soon see an exchange rate of ₦2000 to $1.

But after the National Security Adviser shut down Binance and arrested some of its employees, the Naira appreciated dramatically and has remained at about ₦1500 to $1 this year.

The only reason Peter Obi’s bank could make more than three times the profit it made in 2024 and 2025 is Presidential Bola Tinubu’s deft handling of our economy.

Peter Obi is deceiving you while the Tinubu economy is improving him. Because of President Tinubu, Peter Obi and his bank are wealthier.

The only reason ******** **** PLC tripled its profitability under President Tinubu is because of the President’s economic policies, including:

Fuel subsidy removal
Floating of the Naira
Taking oil receipts from NNPC to the CBN for greater transparency
Reducing fuel imports by more than 50%
Removing impediments to exports, which has resulted in Nigeria achieving a record-breaking trade surplus of $14.31 billion in 2024

Engaging in the largest infrastructural projects in Nigeria’s history, including the Lagos-Calabar Coastal Highway and the Illela-Sokoto-Badagry Expressway, both of which are expanding Nigeria’s GDP by a collective 12%
Widening the tax base. The Federal Inland Revenue Service broke its previous records, collecting ₦21.66 trillion in 2024, a 111.6% increase.

As a result of these policies, Nigeria notched a 3.84% fourth-quarter GDP growth in 2024, which is our highest in three years. For the full year, we secured a 3.4% GDP Growth rate, up from the 2.7% growth rate inherited from the Buhari administration in 2023. The opposition says, ‘Na GDP growth rate we go chop?’ Yet, when GDP growth nosedived under Buhari, they complained.

Reno Omokri