- Obi said 34 million Nigerians risk acute hunger while 133 million already live in multidimensional poverty.
- He claimed inflation approaches 30 per cent despite “suppressed statistics,” worsening hardship nationwide.
The presidential candidate of the Labour Party in the 2023 election, Peter Obi, has drawn a sharp comparison between Nigeria’s economic decline and Argentina’s revival.
Obi said both nations had battled similar economic headwinds over the past two years, yet Argentina managed to recover while Nigeria sank deeper into hardship.
According to him, the country’s worsening hunger and poverty reflect “incompetent leadership without capacity or compassion” at the helm of national affairs.
The former Anambra State governor said countless families that once enjoyed stability are now facing deprivation as the middle class shrinks and living conditions deteriorate.
“In our country today, hunger and poverty are not just distant statistics; they are the harsh reality that millions of our people face daily,” he wrote in a Monday post on X.
He referenced a recent United Nations report which projected that about 34 million Nigerians could face acute food insecurity, with around 133 million already living in multidimensional poverty.
Obi said inflation — “even with suppressed statistics” — is hovering near 30 per cent, while unemployment and poor economic policies have all but wiped out the middle class.
He argued that other countries in similar situations have reversed their fortunes through disciplined governance, clear economic direction, and leaders committed to investing in human capital.
Argentina, he noted, offers a striking example. By early 2024, more than 52 per cent of its citizens were poor, and inflation had soared beyond 200 per cent.
Within two years, the newly inaugurated Argentine president cut waste in governance, restored economic stability, and lowered the poverty rate from 52 per cent to 38.1 per cent.
Obi added that extreme poverty in the South American country dropped to 8.2 per cent, with inflation slowing to an average of 2–3 per cent monthly.
By 2025, he said, urban poverty had fallen to 31.6 per cent, lifting millions out of hardship, reviving investor confidence, and spurring economic growth.
Obi pointed out that both Argentina’s and Nigeria’s current governments came into office in the same year — but only one has shown tangible progress.
“This proves what I have always stated: that two years may not be enough to achieve 100 per cent turnaround,” he said.
“But it is enough to start the transformation journey, with citizens seeing genuine change if leaders are honest, focused and committed.”
The LP candidate maintained that prudent management of resources, combined with sustained investment in education, healthcare, and poverty alleviation, could produce similar gains for Nigeria.
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