Peter Obi, the Labour Party’s presidential candidate, has charged that the Federal Government is not giving economic management concerns enough thought.
This charge was made by the Labour Party candidate on Tuesday in a statement posted on his official X Twitter.
He took issue with President Bola Tinubu’s desire to securitize the outstanding N7.3 trillion ways and means debt amount, which was recently approved by the National Assembly.
The process of combining different debt instruments and selling them to investors as bonds is known as securitization, and the Central Bank of Nigeria, or CBN, uses the Ways and Means lending facility to provide short-term funding to the government in order to make up for budget deficits.
“This is the time when we need to go beyond politics and partisan grandstanding to address the fundamental issues of rational economic management.
“I am afraid that the current administration is not paying sufficient attention to issues of rational economic management,” he said.
While describing securitization as ‘illegal,’ Obi said former President Muhammadu Buhari’s administration also got the senate to approve N22.7 trillion in ways and means borrowing from the CBN, barely 26 days to the end of the eight-year tenure.
