“Bread Will Sell For ₦800, Rice ₦27,500” – Pat Utomi Unveils Peter Obi’s Economic Plans Ahead Of 2027

• Political economist Pat Utomi has disclosed that Peter Obi’s economic plan under the Nigeria Democratic Congress (NDC) targets strengthening the naira to ₦500 against the dollar if elected president in 2027.
• He also projected that essential commodities, including bread and rice, could become significantly cheaper under the proposed economic programme.

Political economist and chieftain of the Nigeria Democratic Congress (NDC), Pat Utomi, has said Peter Obi plans to strengthen the naira to ₦500 against the dollar and significantly reduce food prices if elected president in 2027.

Utomi disclosed this in a post on X, explaining that the proposed exchange-rate target forms part of the party’s economic manifesto aimed at tackling inflation, reducing poverty and improving Nigerians’ purchasing power.

According to him, the plan would involve strengthening the naira from approximately ₦1,350 to ₦500 per dollar, supported by investments in security, electricity and road infrastructure, as well as structural reforms to improve market competitiveness.

He projected that a loaf of sliced bread currently selling for ₦1,750 could drop to ₦800, while a 50kg bag of imported rice could fall from ₦55,000 to ₦27,500.

He also listed other projected price reductions, including yam from ₦2,400 to ₦1,200, maize from ₦75,000 to ₦37,500, plantain from ₦2,500 to ₦1,250 and a whole chicken from ₦7,000 to ₦3,500.

A dozen eggs, according to him, could sell for ₦1,150 instead of ₦2,300, while a painter of garri could drop from ₦1,300 to ₦650.

He said, “We are convinced that targeting a strategic appreciation of the exchange rate by reasonably strengthening it from ₦1,350/$ to ₦500/$ as part of our manifesto is a winning strategy,”

“It offers a direct, multi-faceted approach to curbing inflation, reducing poverty, and lowering the cost of living.”

However, Utomi did not provide a timeline for achieving the proposed exchange rate or details of the monetary and fiscal measures required to sustain it.

Meanwhile, Segun Showunmi, a member of the All Progressives Congress Presidential Campaign Council, has criticised the proposal, questioning its economic feasibility and arguing that a stronger naira would not automatically translate into a 50 per cent reduction in food prices.