The governor of Edo State, Godwin Obaseki, has fingered the federal government for its handling of the country’s economy.
Obaseki in an interview on Channels Television on Thursday’s night said the country’s economy must be urgently restructured for it to survive.
The governor also expressed displeasure over the federal government’s urge for borrowings, adding it lacks the requisite capacity to handle the economy the way it’s currently doing.
“The debt stock went up not because you borrowed more. Nigeria is technically bankrupt. When you’re bankrupt anywhere in the world for from what is called chapter level, you restructure your affair so that you can reorganize and be able to meet your obligations. Nigeria isn’t restructuring its affair; it’s still behaving as if it has more. The country has been in trouble for a while”, he said.
Speaking further, the government accused the Tinubu-led administration of not reducing the country’s expenditure, stressing the need for urgent redesign in the interest of development.
Meanwhile, a recent report by the National Bureau of Statistics indicated that Nigeria’s public debt stock which includes external and domestic debt stood at N121. 67 trillion (US$91.46 billion) in Q1 2024 from N97. 34 trillion (US$ 108.23 billion) in Q4 2023, indicating a growth rate of 24.99% on a quarter-on-quarter basis.
Nigerians react to Obaseki’s Claim that Nigeria is Bankrupt
However, Obaseki’s perspective has been questioned by many Nigerians on Twitter who accused him of poor performance in Edo state.
Several others supported his claim, slamming the federal government for unnecessary wastage in this midst of scarcity.
Abidam said, “Is it the FG tgat say that Governor obaseki should not make use of the fertile land in each state but every month he went to Abuja to share money. Obaseki shld tell us that he failed in his responsibility. He was in charge of land according to constitution.”
“A journalist shldn’t allow a sitting governor to blame & accuse a sitting president of not doing enough, you shld ask him if he’s done exactly the same things in his state that he’s accusing the president of not doing. He just gave out ₦1b to literally buy market women votes”, Mo-Mo noted.
Oba Isi remarked, “That was how @GovernorObaseki raised the alarm that FG was printing/over borrowing from the CBN they almost brought the roof on his head. Alas, he was right. 23 trillion ways and means that partly contributed to where we are today. Truth is that Nigeria is in economic “ICU”.
Maruf noted, “After apologizing to the ruling party. The same man will be giving a ministerial appointment. Don’t be fooled by politricians.”
“See failure dey advise. You’d think his state is now California with the way he’s talking”, Meme said.
Akendelor muttered, “Intelligent Governor. The truth is actually bitter. Only mumu Nigerians will insult him.”
Obaseki’s claim, despite the mixed reactions trailing it, brings to bear the implications of the policies churned out by the Tinubu-led administration.
It also underscores the need for President Bola Ahmed Tinubu to, perhaps, see to his policies and redress in order to make life easier for Nigerians.
