The presidential candidate of the Labour Party (LP) in the 2023 election, Mr Peter Obi, has advised President Bola Tinubu to take a cue from his Argentine counterpart, Javier Gerardo Milei, to address Nigeria’s economic woes.
Obi explained that the Argentine leader inherited a battered economy with over 52% of citizens living in poverty in 2024, with an inflation rate above 200 per cent, but has attained significant milestones through competent leadership.
According to him, under his rule, Argentina’s poverty rate has fallen to 38.1% from 52%, and extreme poverty fell to 8.2%, with inflation just around 2–3% monthly, within 2 years.
The former Anambra State Governor said this in a post on his X handle on Monday.
Obi said, “In our country today, hunger and poverty are not just distant statistics; they are the harsh reality that millions of our people face daily.
“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.
“Inflation, even with the suppressed statistics, is nearly 30%, while unemployment and economic mismanagement have nearly wiped out our once vibrant middle class.
“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.
“Other nations have faced similar challenges and turned their fortunes around through disciplined leadership, sound economic policies, and a total commitment from the leaders to invest in human development and pull their people out of poverty.
“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 prioritise 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.
“As of 2025, the 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.
“Both Argentina and the current Nigerian leadership assumed office in the same year, and this proves what I have always stated, that two years may not be enough to change a nation with a 100% turnaround, but it is more than enough to kickstart the transformation journey that will change the fortune of our dear country, with the people witnessing real and genuine change, but only if the leadership is honest, focused, and committed to the people.
“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.
