Peter Obi, the 2023 Labour Party presidential candidate, has advocated for a substantial 60% reduction in Nigeria’s overall cost of governance. While acknowledging President Bola Tinubu’s recent decision to slash the travel expenditure of government officials by 60%, Obi expressed reservations about the lack of transparency regarding the anticipated savings.
In a statement posted on X, Obi commended the reduction in the size of federal official entourages during travels as a positive step towards curbing wastage. However, he contended that this measure merely scratches the surface and results in only a negligible saving. Obi emphasized the necessity of not only reducing the size of delegations but also cutting down on federal official overseas trips.
Most significantly, Obi underscored the urgency of a comprehensive 60% reduction in the total cost of governance at the federal level. He argued that revising the recently passed federal budget to eliminate wasteful and unnecessary expenditures is essential. According to Obi, such a significant cost-cutting initiative is imperative to meaningfully impact the current state of the economy and generate substantial savings.
