Peter Obi Fires FG After Ribadu Said Tinubu Inherited a Bankrupt Country

Peter Obi has said the alarm raised by the federal government about the bad state of Nigeria’s finances “raises questions about the rationale behind some expenditure items in the supplementary budget recently signed into law”.…CONTINUE READING

Obi, the presidential candidate of the Labour Party (LP) during the February 2023 election, said the revelation also goes to buttress the argument that the cost of governance must be drastically reduced.

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President Tinubu’s ally, Nuhu Ribadu, had said his principal inherited a bankrupt country. Photo credits: Mr. Peter Obi, Asiwaju Bola Ahmed TinubuSource: Twitter
Obi reacts to Nigeria in bankruptcy claim

Obi shared his thoughts via his verified X (formerly Twitter) account on Thursday, November 16.

Obi’s statement partly reads:

“Recall that the previous APC Government made a similar claim in 2015 against the PDP administration that handed over to them without telling the nation what it actually inherited.

“Rather, they took our debt profile from N12.6 Trillion in 2015 to N87 trillion in 2023 when they left office without improving on any indices of development: Education, Health, Poverty eradication, and Security.’

“Instead, the condition of the nation on every development index got worse, leading to the present sad state. Nigerians know things are bad, and they experience it daily. What they now want to hear regularly are measurable and verifiable steps to improve the situation.

“Also, the alarm raised by the government about the bad state of our finances raises questions about the rationale behind some expenditure items in the supplementary budget recently signed into law.

“The present revelation also goes to buttress the argument that I have made since electioneering season that the cost of governance is too high and must be drastically reduced.”