OBI queries Tinubu over alleged inherited bankruptcy status from Buhari

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PRESIDENTIAL Candidate of the Labour Party (LP) in the February 25, 2023 election, Peter Obi has queried the All Progressives Congress (APC) led Federal Government on the financial state of the economy when it said the nation was in state of bankruptcy from what it inherited from President Muhammadu Buhari’s administration.




Obi in a Press Release available to SOJ WORLDWIDE said the government needs to be transparent





He took a swipe at President Bola Ahmed Tinubu administration for channeling scarce resources on irrelevant items in the Supplementary Budget instead of job creation, education, health, poverty alleviation and security.

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“I just read yesterday, a widely publicized story from the present APC-led Federal Government saying that they inherited a bankrupt nation from their predecessor APC administration. But the story failed to disclose what they inherited which had qualified us for bankruptcy status.




One major characteristic of responsible governance is transparency and strict accountability. This demands that the government disclose exactly the degree of deficit they inherited. What is inherited should be disclosed to enable the public to know where we are and where we are headed. 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.

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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. A bankrupt country should channel every available resource into funding critical development sectors like security, healthcare, education, and eradication of poverty by addressing youth unemployment, not spending in non-essential areas. So, what we expect are measurable and verifiable steps to improve the situation. -PO”

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