Peter Obi Criticizes Federal Government, Accuses It Of Neglecting Economic Management Concerns

Peter Obi Criticizes Federal Government, Accuses It Of Neglecting Economic Management Concerns....KINDLY READ THE FULL STORY HERE▶

The Labour Party’s presidential candidate, Peter Obi, has accused the Federal Government of neglecting crucial economic management matters. In a statement released through his official X handle on Tuesday, Obi expressed his concern over the insufficient attention given by the current administration to economic issues……..CONTINUE READING

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Particularly critical of the recent National Assembly approval of President Bola Tinubu’s request for the securitization of the outstanding N7.3 trillion ways and means debt balance, Obi denounced the move. Securitization involves consolidating various debt instruments and selling them as bonds to investors. On the other hand, Ways and Means is a loan facility provided by the Central Bank of Nigeria (CBN) to cover the government’s short-term budget shortfalls.

Obi emphasized the need to move beyond political posturing and address the fundamental aspects of rational economic management. He expressed apprehension about the current administration’s alleged lack of focus on these critical economic issues.

Labelling the securitization as ‘illegal,’ Obi pointed out that the previous administration, under President Muhammadu Buhari, also secured Senate approval for N22.7 trillion in ways and means borrowing from the CBN merely 26 days before the end of the eight-year tenure. This further underscores Obi’s concerns regarding what he perceives as a disregard for sound economic principles by successive administrations.

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