Unbalanced budget, borrowing, scourge of Nigerian economy — Obi
Labor Party presidential candidate Peter Obi has identified an unbalanced budget as the cause of Nigeria’s economic crisis.
Obiwho spoke at a Sunday presidential meeting in Abuja, noted that Nigeria’s budget was characterized by unnecessary loopholes.
He added that the high costs of governance had taken a heavy toll on the country’s economy.
However, he promised to reduce governance costs and ensure economic development if elected next year.
Obi said: “Growing the economy involves a lot of things. But I think it is important that we take care of the high costs of governance. Our budget must be cleared of unnecessary allocations. If governance costs are reduced , we spend about 14 trillion naira to take care of other important issues.
“On the issue of borrowing, there is nothing wrong with that. But we have to borrow for production. When we produce and export enough, we create a pathway for revenue generation. That way we can create jobs and lift people out of poverty.
“I am committed to fighting corruption head on. I must lead by example by effectively managing state resources. It starts with me. If this is done, you defeat the corruption.
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