Former Labour Party Presidential Candidate, Peter Obi, has expressed skepticism over the federal government’s optimism in reducing Nigeria’s inflation rate from 34% to 15%. Speaking during a media briefing FROM 16:35, Obi highlighted the challenges inherent in achieving such a significant drop, especially without visible actions addressing the root causes of inflation.
“This is not the first time he’s coming out with such optimism,” Obi remarked, referring to the government’s projection. “The reality is that while we expect 100 percent result, we want to see 100 percent effort.”
Obi emphasized that inflation, particularly in Nigeria, is driven largely by food prices. He noted that unless the costs of staple foods like rice and beans are reduced to levels affordable on the current minimum wage, the public will struggle to believe in the government’s promises.
“I’ll wait and see how inflation will come down from 34% to 15% because the main drive of inflation, as we know, is food. When I see rice, beans coming down below the minimum wage, then we begin to say yes,” he stated.
The former Anambra State governor also underscored the importance of reducing the cost of governance, a promise frequently made by successive administrations but rarely fulfilled. He stressed that governance should be measured by the tangible impact on citizens’ lives, not by rhetoric or plans on paper.
“It’s not something you say; it’s what you do and what people feel. Governance is about the feeling of the people, not you,” Obi added.
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