The Socialist Party of Nigeria (SPN) has dismissed Peter Obi’s recent promise to serve only a single four-year term if elected president as nothing more than “empty rhetoric”, stating that such declarations are meaningless without a fundamental break from Nigeria’s exploitative capitalist system.
In a press statement signed by the Acting National Chairperson, Abiodun Bamigboye, and the National Secretary, Chinedu Bosah, the SPN argued that the country’s socio-economic crisis is not rooted in tenure length or political ambition but in the “ruinous capitalist system” that has long served the interests of the elite at the expense of the masses.
While Obi’s statement has stirred nationwide discussions, seen by many as a humble contrast to the power-hungry norm, the SPN insists that cosmetic reforms and tenure pledges cannot salvage a system rotted by corruption, inequality, and elite-driven exploitation.
“Without a complete break from the ruinous capitalist system that has continually failed the Nigerian working people, youth, and poor, such a promise will amount to nothing but empty rhetoric,” the party declared.
The SPN contends that Nigeria’s endemic poverty, unemployment, poor infrastructure, and deteriorating public services are products of a capitalist system—regardless of whether it is led by military or civilian rulers. They stress that only a socialist transformation, based on public ownership of key sectors and democratic control by the working people, can begin to resolve the crisis.
“As far as we are concerned in the SPN, the only way out of Nigeria’s age-long socio-economic problems lies not in adjusting the timeline of political office but in transforming the economic and political structure of the country,” the party added.
The party also took aim at Obi, Tinubu, Atiku, and other leading politicians, arguing that none of them can be trusted to lead the necessary transformation:
“Despite their populist language, their class interests are tied to preserving the capitalist status quo. Meaningful change will not come from within the capitalist elites.”
SPN called on the Nigerian Labour Congress (NLC), the Trade Union Congress (TUC), and other mass organizations to stop aligning with capitalist forces and begin organizing for a working-class-led political alternative.
They proposed a national conference involving socialist groups, trade unionists, youth organizers, and left-leaning civil society organizations to lay the groundwork for a truly mass-based workers’ party.
Specifically, the party called for the involvement of platforms such as the Socialist Party of Nigeria (SPN), African Action Congress (AAC), and Joint Action Front (JAF) in building a new political force capable of breaking with the failed systems of the past.
In closing, SPN urged Nigerians, particularly the working class and youth, to stop placing their hopes in politicians from the same class that has driven the country to ruin.
“The working class must rise to its historic responsibility. Only mass struggle and a fight for a socialist programme can build a Nigeria where social justice, genuine development, and basic needs for all are possible.”