Peter Obi, presidential candidate of the Labour Party (LP), says insecurity in Nigeria is taking a huge toll on the economy, especially as it regards inflation rate.
He the issue of insecurity must be given priority to halt the runaway inflation in the country.
Speaking in a BBC interview aired on Tuesday, Obi said Nigeria’s top priority today is security, adding that it’s an issue that requires urgent attention.
He said the country has been hit by high food inflation, which can be tackled by improving security.
In its consumer price index (CPI) report for August 2022, the National Bureau of Statistics (NBS) said food inflation had risen to 23.12 percent, representing a 2.82 percent increase when compared to 20.30 percent recorded in August 2021.
The inflation rate is the highest since October 2005.
“The number one priority today in Nigeria is the issue of security because it has become an essential issue for Nigeria,” Obi said.
“You can’t talk about being a country unless you are secure, unless your citizens are secure. So, it’s an issue that must be dealt with decisively.
“It’s also something that if you deal with today, you can deal with inflation, because the worst part of inflation we are dealing with is food inflation. So, if you secure the country, your farmers will go back, they will produce more and the food inflation will come down.
“We have to immediately review and restructure the entire security architecture, make it responsive and responsible. Responsive is that they will deal with issues as quickly as possible. Responsible is that somebody is in charge and if he’s not doing it, don’t wait, the person will go.”
Obi said the vast land in the northern region can boost food security as well as change the economy of the country.
“Look at the vast land we have in the north, that is the most important physical asset of the country today. If you cultivate all that vast land, we will feed ourselves, we will export, that vast land can change Nigeria.”