The purchasing power of most Nigerians is nose-diving every day – Peter Obi laments absence of rule of law and exit of top global companies

Peter Obi has expressed concern about the diminishing purchasing power of most Nigerians, asserting its daily decline. The presidential candidate for the Labour Party in the 2023 election conveyed this sentiment while lamenting the departure of multinational companies from Nigeria.

In his statements, Obi pointed out that these global companies are exiting the country due to the absence of perceived growth in Nigeria driven by productivity. According to him, the departure of these prominent international companies indicates a negative outlook for Nigeria’s medium to long-term prospects, signaling an unattractive investment profile and a continuous deterioration of the business environment.

Emphasizing the urgency of the situation, Obi highlighted the need for governments at all levels in Nigeria to promptly implement measures that establish and actively engage institutions of governance, aiming to reverse the current unfavorable conditions