WRITTEN BY:CHIOMA MADONNA NDUKWU
Peter Obi, the 2023 presidential candidate of the Labour Party (LP), expressed his views on the nation’s economic crisis during an appearance on Arise TV.
He commended President Bola Tinubu for fulfilling his campaign promises, despite the deteriorating economic conditions. Obi highlighted that Tinubu had pledged to continue from where his predecessor, Muhammadu Buhari, left off. He noted significant increases in prices and costs of living since Tinubu took office, including the steep rise in the dollar exchange rate, fuel prices, and essential commodities.
Obi detailed the economic challenges:
Dollar exchange rate increased from N460 to N1500
Fuel prices rose from N238 to around N700
Diesel prices surged from N844 to N1415
A bag of rice went from 35,000-40,000 to about 80,000
Electricity costs jumped from N66 per kilowatt to around N200
Despite these challenges, Obi maintained that Tinubu has adhered to his campaign commitments, albeit with adverse impacts on the economy and living conditions. He emphasized the worsening adherence to the rule of law and increased nepotism, urging a reflection on these developments.
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