Commending the Federal Government’s decision to slash official travel entourages by 60%, Peter Obi, the 2023 presidential candidate of the Labour Party, emphasized the need for more substantial reductions in governance costs to have a meaningful impact on the economy.
In a statement shared on his X page on Wednesday, Obi described the entourage cut as a positive step towards curbing governance expenses and preventing wastage. However, he emphasized that the measure only scratches the surface and will lead to minimal savings.
While acknowledging the commendable nature of the modest step taken, Obi called for a 60% reduction in both federal official overseas trips and the size of delegations, emphasizing that Nigeria’s economic challenges require even bolder action, such as a 60% cut in the total cost of federal governance.
The former Anambra governor stressed the necessity of revising the recently passed federal budget to eliminate wasteful and unnecessary items, emphasizing that such substantial cost-cutting measures could significantly impact the country’s economy.
Obi urged that the savings from governance cuts be directed toward productive sectors and social investments in education, healthcare, and poverty alleviation.
Emphasizing the importance of transparency, Obi insisted on the need for detailed information regarding the expected savings from the announced measures and their intended allocations.
Highlighting the government’s indiscriminate borrowing, Obi underscored the critical role of drastically reducing the cost of government to rescue the economy by curbing wasteful expenses and unnecessary luxury spending.
