Former President Olusegun Obasanjo has proposed a solution to Nigeria’s current all-time high inflation, suggesting that the government seek advice from Zimbabwe. Obasanjo pointed out that Zimbabwe recently faced a similar challenge and successfully emerged from it, making the southern African nation a valuable source of guidance for Nigeria.
According to the latest data from the National Bureau of Statistics, Nigeria’s inflation rate stands at 29.9 percent, reflecting the country’s struggle with the high cost of living. This has led to sporadic protests across Nigeria as citizens grapple with soaring prices of essential commodities.
Obasanjo shared his insights during a youth leadership symposium held as part of the activities marking his 87th birthday. The event, themed “Opportunities for Peace: Roles of the Youths in Conflict Prevention in Africa,” took place at the Olusegun Obasanjo Presidential Library in Abeokuta. Organized by the Centre for Human Security and Dialogue in collaboration with the Institute for African Culture and International Understanding, the symposium provided a platform for discussing critical issues affecting Africa’s youth and their role in fostering peace and stability.
By drawing attention to Zimbabwe’s successful navigation of inflationary challenges, Obasanjo’s proposal highlights the potential for cross-border learning and collaboration in addressing economic issues. As Nigeria seeks solutions to its current inflationary pressures, exploring insights from Zimbabwe’s experience could offer valuable lessons and strategies for mitigating the impact on citizens’ livelihoods.
