Presidential candidate of the Peoples Redemption Party PRP, Donald Duke, has warned that Nigeria risks further economic decline and capital flight within the next four years unless urgent policy reforms are implemented to restore investor confidence and stabilize governance.
Speaking during an interview on ARISE NEWS, the former Cross River State governor said his return to frontline politics was driven by concerns over Nigeria’s deteriorating investment climate, weak institutions, and rising economic uncertainty.
‘Nigeria Losing Economic Confidence’
Duke said Nigeria’s current policy direction is undermining both local and foreign investor confidence, warning that the country could become less competitive if reforms are delayed.
“The direction the country is going requires very urgent intervention. In another four years, if we don’t change the trajectory, the economic damage—which is already visible—will deepen further,” he said.
He added that his decision to contest the presidency was motivated by the need to help restore stability and rebuild confidence in Nigeria’s economic future.
Links Insecurity to Economic Instability
The PRP presidential candidate said Nigeria’s security challenges are directly affecting productivity, investment, and national output, describing them as symptoms of deeper structural weaknesses.
He argued that persistent insecurity, including banditry, kidnapping, and insurgency, continues to discourage investment and disrupt economic activity across key sectors.
“The economy is broken; it’s not growing. Whether you call it Boko Haram, ISWAP, banditry or kidnapping, these are all signals of systemic failure that also scare away investment,” Duke stated.
He further noted that years of governance focused more on political competition than economic planning have weakened institutions and reduced policy effectiveness.
Warns of Weak Business Environment
Duke expressed concern over Nigeria’s macroeconomic environment, particularly high interest rates, which he said are stifling private sector growth and discouraging borrowing for productive investment.
“You have poor governance as a derivative of leadership, and you have an economy that is just not growing. How can you grow an economy with interest rates in the upper 30s?” he asked.
He warned that without urgent monetary and fiscal reforms, Nigeria risks further contraction in business activity and job creation.
Advocates Political Cooperation for Stability
Looking ahead to the 2027 general election, Duke called for greater unity among opposition parties, arguing that political fragmentation weakens the ability to drive meaningful reform.
He said Nigeria needs a coordinated political approach focused on economic recovery, institutional rebuilding, and long-term stability.
“Ideally, the opposition should come together. We have a splintered opposition with a common goal. I want to be the voice of reason because eventually we all have to come together to decide where this country will go,” he said.
