Peter Obi Calls for Comprehensive Fiscal Measures Beyond Token Cuts: Urges Transparent Reduction in Federal Expenses for Economic Revitalization”
In a recent Twitter statement, Peter Obi has addressed the recently unveiled 60% reduction in the size of federal official entourages during travels. While acknowledging this move as a positive step towards curbing the cost of governance and preventing wastage, Obi emphasized that the measure, only scratches the surface of the issue.
The lack of information regarding the expected savings raises questions about the overall impact on government expenditures.
Obi called for a more comprehensive approach, advocating not only for a 60% decrease in the size of federal official overseas trips but also for a parallel reduction in the size of delegations. Crucially, he highlighted the pressing need for a 60% cut in the total cost of governance at the Federal level. This, in his view, requires a thorough revision of the recently passed federal budget to eliminate any wasteful and unnecessary expenditures.
The former governor argued that significant cost-cutting measures are essential to make a meaningful impact on the current economic state. The resultant savings, he proposed, should be directed towards funding productive sectors such as education, healthcare, and initiatives addressing the migration of millions of Nigerians from poverty.
Obi underscored the importance of transparency, stating that mere announcements of arbitrary cuts in the size of federal official entourages are insufficient. He called for detailed information on the expected savings and the specific areas where these funds will be allocated.
He expressed the view that the nation needs concrete, well-informed measures rather than token populist gestures, especially considering the government’s propensity for indiscriminate borrowing.
Ultimately, he asserts that a drastic reduction in the cost of government is imperative to salvage the economy, emphasizing the need to curtail expenditures on non-essential luxury items.