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Cost of governance crippling Nigeria’s economy – Obi

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By Lawrence Nwimo

Former governor of Anambra state and vice-presidential candidate of the Peoples Democratic Party (PDP), in the 2019 general election, Mr. Peter Obi, has blamed the Nigeria’s devastating economy on the country’s high cost of governance.

Obi stated this at the maiden Nnamdi Azikiwe University Alumni Reunion and Award Ceremony themed, “Survival Strategy in a Devastated Economy,” held in Awka, the Anambra state capital on Friday.

He said the running cost of governance in the country need be reduced to the barest minimum for her economy to make any headway in the future.

Obi who was the keynote speaker at the event also berated leaders who he accused of squandering money on frivolities instead of investing in ventures or human capitals that would have telling positive effect on the Gross Domestic Product, GDP, and living standard of the people.

Speaking further on the theme, the former governor said leaders have failed the country by their failure to cut down unnecessary expenditures but instead mortgage the country’s future by relying on incessant borrowing and accumulation of debts.

According to him, “the cost of governance in Nigeria is unacceptable. We don’t have the cost of keeping a councillor, local government chairman, house members and others. It is time government start cutting cost of governance and frivolities to save money for the country.”

In a remark, former Minister of Information, Prof Jerry Gana described the theme of the reunion as apt and timely, stating that the Nigerian state is in comatose and terrible economic condition.

According to him, the economy needs to be rescued and redirected. He also said the security situation of the country needs be addressed if there should be hope of reviving the failing economy of the country.

Speaking on the upcoming general election, he said: “the 2023 election would not be business as usual because Nigeria is in a very dangerous situation. Nigeria needs to be rescued, transformed and that is the biggest solution to the problem.”

Former Nigeria Ambassador to Mali, Ambassador Kenneth Nwachukwu, in a lecture, decried bitterly the travails and sufferings of Nigerian youths in their desperate bid to escape challenges and difficulties of the Nigerian economy.

He also blamed the strategic imbalance in the country for excluding the youths from the bargains of the nation and insisted that the country must ensure that an effective socio economic, sociopolitical strategy is put in place to provide the structural balance on which the youths operates.

UNIZIK Vice-chancellor, Prof Charles Esimone, reiterated the importance of alumni to institutions. He encouraged the alumni members to consider contributing their quota to the growth and development of the university and the society at large.

Also, National President of the body, Engr. Kingsley Nwafor said the event was to provide members the opportunity to reunite, interact and bond together as well as provide platform to honour illustrious members and support their Alma mater.

No fewer than 58 individuals, including Mr. Peter Obi, Chief Obinna Iyiegbu a.k.a Obi Cubana, Chief Dickson Orji, Prof Jerry Gana and a host of others were decorated with Merit awards, Badge of Honors and other honours, respectively at the reunion.

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