Former presidential candidate Peter Obi stated on Monday that, although President Bola Tinubu and President Javier Milei assumed office in the same period, things have improved in Argentina, while they have worsened in Nigeria.
Citing Argentina as an example of a country making progress, though once confronted with similar challenges to those faced by Nigeria, Mr Obi pointed out that Argentina and “the current Nigerian leadership assumed office in the same year,” but the Latin American country had made significant progress.
Mr Milei took office as president on December 10, 2023. Mr Tinubu was sworn in as Nigeria’s president on May 29, 2023.
“A recent example is what is happening in Argentina. In Argentina, over 52% of its population lived in poverty by early 2024, according to the World Bank, with millions of Argentines unable to meet basic needs. Inflation was above 200%, and economic confidence had collapsed.
“Yet, within two years, through decisive action to cut waste in governance and prioritize economic stability, the newly inaugurated president was able to cut down the poverty rate to 38.1% from 52% in just 2 years and extreme poverty fell to 8.2%, with inflation just around 2–3% monthly,” Mr Obi said.
The politician added that as of 2025, urban poverty had declined to 31.6%, lifting millions of people out of poverty. Investor confidence grew, and the economy began to grow.
“The people now see real improvements in their daily lives,” noted Mr Obi in a statement on X.
“Hunger and poverty are not just distant statistics; they are the harsh reality that millions of our people face daily,” the opposition figure stated.
“Families who once lived stable lives are now slipping into poverty. But this is not just ordinary, it is as a result of incompetent leadership without capacity and compassion, who are not interested in putting the Nigerian people first in their actions,” Mr Obi stated.
He added, “Recently, the United Nations stated that about 34 million Nigerians will face acute food insecurity, and about 63% of our population, which is about 133 million people, now live in multidimensional poverty.
The Labour Party politician, who is aligning with the African Democratic Congress, lamented the hardship brought about by Mr Tinubu’s harsh economic policies.
“Inflation, even with the suppressed statistics, is nearly 30%, while unemployment and economic mismanagement have nearly wiped out our once vibrant middle class,” stated the politician.
While Mr Obi admitted that “two years may not be enough to change a nation with a 100% turn”, he insisted that “it is more than enough to kickstart the transformation journey”.
He added, “Nigeria can work. We can reduce hunger and restore dignity to Nigerians. But this will not happen while corruption and criminality dominate our governance. Our nation requires leaders who will put the people first, manage resources prudently, and stand firm in rejecting corrupt practices.
“Nigeria will work, but only if we, as leaders, commit to tackling corruption, cutting the cost of governance, and focusing on critical areas of development like education, healthcare, and lifting the people out of poverty, just as other nations have done with remarkable results.”
Last week, Mr Tinubu’s government stated that, although Nigerians are experiencing economic hardship, opposition politicians, including former Vice President Atiku Abubakar and Mr Obi, as well as other critics, should not exaggerate the pain and suffering of Nigerians.
