Peter Obi expresses concern over the deteriorating purchasing power of many Nigerians, attributing it to the departure of multinational companies from the country.

Peter Obi, a politician and the Labour Party’s presidential candidate in the 2023 election, has lamented the daily decline in the purchasing power of most Nigerians. He made this observation while expressing concern about the departure of multinational companies from Nigeria, stating this during an interview on X.

In his statements, Obi emphasized that multinational companies are departing from Nigeria due to the absence of perceived growth in the country rooted in productivity. He underscored that the departure of these prominent global companies indicates a negative outlook for Nigeria’s medium to long-term prospects, highlighting that the investment profile is unappealing and the business environment is consistently deteriorating.

He emphasized the urgent need for governments at all levels in Nigeria to take immediate measures, ensuring the establishment of effective governance institutions actively engaged in efforts to reverse the current situation.