“Peter Obi advises the Federal Government to decrease governance expenses by 60%, emphasizing that this should not involve reducing travel entourages.”
The Labour Party’s presidential candidate in the 2023 General Elections, Peter Obi, has expressed that what Nigerians truly require is a 60 percent reduction in the cost of governance rather than merely cutting down on travel entourages. Obi conveyed this perspective through a statement on his X (formerly Twitter) verified handle, emphasizing that President Bola Tinubu’s recent decision to trim the number of individuals accompanying officials on both international and local trips by 60 percent is just a surface-level initiative.
President Tinubu’s move, described as part of the presidency’s cost-cutting measures by Ajuri Ngelale, the presidential spokesperson, primarily impacts the entourages of the president, vice-president, first lady, ministers, and heads of agencies. However, Obi contends that while this step may be considered commendable, it results in only minimal savings and is insufficient to address the economic challenges effectively.
Obi suggests a comprehensive approach, calling for a revision of the 2024 budget to eliminate all wasteful and unnecessary expenditures. He asserts that a more substantial impact on the economy would be achieved through a 60% reduction in the total cost of governance at the federal level. This comprehensive reduction, according to Obi, should encompass both overseas trips and the size of delegations.
The former Anambra State Governor stresses the need for transparency in communicating the anticipated savings from these measures and highlights the importance of redirecting such funds towards productive sectors and essential social investments, particularly in education, healthcare, and poverty alleviation. Obi concludes by emphasizing the necessity of providing the public with clear information on the amount of savings generated and the specific areas where these savings will be allocated.
