Politics
ECONOMY: Nigeria living on borrowed money, may collapse if … –Peter Obi
Former Anambra State governor, Peter Obi, has said that Nigeria is on the verge of collapsing except something urgent is done soon.
He also said that the reason things are presently difficult in Nigeria was because the country is living on borrowed money.
Obi, who disclosed this while speaking during the Federal University,
Ndufu Alike Ikwo (FUNAI) grand-finale and presentation of awards to winners of a creative writing competition, added that leaders in the country have continued to do things wrongly.
He said, “If we don’t do anything now the country will collapse. Nigeria is living on a borrowed money. So, you see things are
difficult in Nigeria and we need to change our society so that things will get better.
“People are hungry and we should join hands together to question our leaders to tell us what is happening in this country and making sure that the right things are done.
Read also : Senate investigates $1bn Ogoni clean up
“Our leaders are doing things wrong, we should not follow them to celebrate what is wrong. What we have in Nigeria is that we are celebrating what is wrong. And I am of the opinion that we should stop celebrating what is wrong and start doing things right so that this country can grow.
“Our leaders should cut the cost of governance and show more concern to how to improve the standard of living of all Nigerians.
“All of us, from 1960 when we gained independence, if we had done the right thing from then, it is not the question of PDP or APC. We have lived wrongly, we have done the wrong things and that is why the country is not growing”, the former governor lamented.
RipplesNigeria ….without borders, without fears
Click here to download the Ripples Nigeria App for latest updates
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
German Police bust alleged Nigerian scam dating ring
German authorities have arrested eleven individuals suspected of being members of a Nigerian mafia group involved in a large-scale dating...
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
JOHNSON PETER
June 7, 2017 at 8:36 am
Obi keep quiet, it’s been long different irrational economists and political analysts have been saying Nigeria is at the verge of collapsing but yet, waxing stronger and stronger. Go find something else to say
Abeni Adebisi
June 7, 2017 at 12:14 pm
Don’t mind the fool, when Nigeria’s economy nearly crashed, it was the borrowed funds that revived the economy, now he’s complaining. If not that he’s a blind man, he’d understand all the money we’re borrowing would be returned once our economy is stable again.
yanju omotodun
June 7, 2017 at 7:38 pm
the idiot wrecked Anambra state coffer and left the state in serious debts.
Animashaun Ayodeji
June 7, 2017 at 11:50 am
If our government don’t change their approaches towards the betterment of the country, things will not change, poverty will not be eradicated and our economy will not grow.
Anita Kingsley
June 7, 2017 at 11:58 am
He has spoken well, but the truth is nigeria cannot survive without borrowing, if we decided to stop borrowing from other sources, how will we enrich our economy to generate more funds? We have to keep borrowing until we get everything right, by then, we can put a stop to massive borrowings
Balarabe musa
June 7, 2017 at 5:57 pm
The only reasonable thing Obi said which I appreciate is cutting cost of governance. Especially reducing outrageous salaries of our lawmakers to save more money for the country.
seyi jelili
June 7, 2017 at 7:27 pm
Stop focusing on lawmakers alone, even the executives, even Buhari himself is earning jumbo pay. He is enjoying huger benefits, his medical bills is even bigger than Senate expensives.