Labour Party’s Peter Obi Criticizes Tinubu-Led Administration’s Claims of Inheriting a “Bankrupt” Nation

Former Anambra Governor Calls for Transparency and Accountability Amidst Allegations of Financial Distress

Presidential candidate of the Labour Party, Peter Obi, has taken a swipe at the administration led by President Bola Tinubu, challenging recent assertions that they inherited a financially strained treasury from former leader Muhammadu Buhari.

The critique comes in the wake of statements by the National Security Adviser, Nuhu Ribadu, who on Monday cited inherited liabilities as a cause for the country’s financial deficit. Tinubu, during a meeting with investors in Saudi Arabia on Tuesday, echoed similar sentiments about inheriting financial burdens from predecessors.

Reacting to these claims, Obi expressed his dissatisfaction, labeling the excuse as a recurrent theme within the All Progressives Congress (APC). Drawing parallels to past administrations, Obi emphasized the need for transparency and accountability in the government’s disclosure of the inherited deficit.

“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,” Obi remarked.

Highlighting the importance of responsible governance, Obi stressed the necessity for the government to divulge the exact extent of the deficit inherited to keep the public informed.

Obi further criticized the APC-led government for the substantial increase in the country’s debt profile, citing heavy borrowings without notable improvements in crucial development indices such as 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,” Obi stated.

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The former governor also questioned the rationale behind certain expenditure items in the recently signed N2.17 trillion supplementary budget, criticizing provisions that seemingly prioritize government officials over addressing the challenges faced by the Nigerian populace.

Obi concluded by reiterating his longstanding argument that the cost of governance in the country is excessively high and must be significantly reduced, especially in the face of a purportedly “bankrupt” nation. He called for a redirection of resources toward critical development sectors, urging the government to focus on addressing pressing issues such as security, healthcare, education, and poverty eradication.

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