O’tega Ogra, Senior Special Assistant to the President on Digital Communications, Engagement and Strategy, has taken aim at Labour Party presidential candidate Peter Obi over his recent endorsement of Argentina’s economic reforms, accusing him of inconsistency and double standards.
On August 11, Obi had criticised Nigeria’s leadership for what he called “incompetence” and a lack of compassion, blaming hunger and poverty on poor governance. He compared Nigeria’s economic situation with Argentina’s under President Javier Milei, praising the South American country’s removal of petrol and electricity subsidies, currency devaluation, and large-scale public sector cuts. According to Obi, these policies led to a sharp drop in inflation and poverty within two years and should serve as a model for Nigeria.
Responding on Tuesday, Ogra said Obi’s comparison ignored key facts and economic realities.
“Before Argentina’s President Javier Milei began his reforms, inflation was already at around 114.2% then rose to about 289% four months into his reforms with prices more than tripling in 12 months,” Ogra stated.
“After Argentina removed subsidies on fuel and electricity, floated the currency, and slashed thousands of public sector jobs completely, inflation spiked even higher. When Milei took office in December 2023, inflation was already at 211.4 percent. It peaked at about 289 percent just four months into his reforms before easing to 39.4 percent by June 2025. Prices are still rising, only slower than before.”
He contrasted Argentina’s turbulence with Nigeria’s own inflation pattern, noting that Nigeria’s inflation started at 22.41 percent in May 2023, peaked at 34.80 percent in December 2024, and is now down to 22.22 percent.
“Both Argentina and Nigeria are in disinflation phases. The difference is that Nigeria never faced the extreme volatility and human suffering Argentina did,” Ogra explained.
The presidential aide argued that Obi’s stance abroad versus at home was contradictory.
“Nigeria under President Bola Ahmed Tinubu is on the same successful path, only with less pain, no extreme human cost like Argentina’s, and better numbers,” he said. “It beats me how, according to him, the same medicine is ‘good leadership’ in Buenos Aires, but ‘incompetence’ in Abuja.”
Ogra went further to question Obi’s credibility on economic matters, saying: “One question though: Why is Peter Gregory so inconsistent? He has continuously rallied against the removal of subsidies and other similar reforms here yet he is praising the even worse shock therapy in Argentina as a model that should been done. Either he doesn’t do his homework well, lacks the knowledge, or he is being disingenuous.”
He urged Nigerians to remain focused on sustaining ongoing reforms, cushioning their effects on citizens, and maintaining policy consistency rather than switching to what he described as “gradualist approaches that have failed in other economies.”
