Saturday, July 26, 2025
  • REPORT A STORY
  • PRIVACY
  • CONTACT US
WITHIN NIGERIA - NEWS PICKS
  • HOME
  • FEATURES
  • NEWS PICKS
    • BREAKING
    • National
    • Local News
    • Politics
    • Diaspora
    • Business
    • Education
    • Sports
    • World News
      • Africa
      • U.S
      • Asia
      • Europe
    • XTRA
  • ENTERTAINMENT
  • MORE
    • GIST
    • ARTICLES
    • VIDEOS
No Result
View All Result
WITHIN NIGERIA - NEWS PICKS
No Result
View All Result
  • HOME
  • FEATURES
  • NEWS PICKS
  • ENTERTAINMENT
  • MORE

Tinubu lacks capacity to manage our economy; APC has bankrupted Nigeria – Obaseki

Afolabi Hakim by Afolabi Hakim
September 20, 2024
in National
Reading Time: 2 mins read
0 0
A A
0
Share on FacebookShare on Twitter
  • The governor underscored the urgent need to tweak expenditure to fit revenue and also for restructuring to facilitate progress

Godwin Obaseki, the governor of Edo State has expressed concern over the condition of the fiscal state of Nigeria, saying the nation’s financial condition is troubling.

Speaking during an interview on Channels Television’s Politics Today on Thursday, Obaseki stated that Nigeria is bankrupt.

He said the All Progressives Congress (APC) led federal government has refused to display frugality in the face of the nation’s lean resources and unhealthy financial condition.

The governor underscored the urgent need to tweak expenditure to fit revenue and also for restructuring to facilitate progress.

READ ALSO

PDP now a carcass, can’t be salvaged, will finish fourth in 2027 – Fayose

Lagos to experience 25-day blackout, DisCo announces

Gunmen storm Imo communities, kill seven

El-Rufai not our member, he doesn’t speak for us – SDP

“Nigeria is technically bankrupt. When you are bankrupt anywhere in the world like in the state.

“You restructure your affairs so that you can reorganize and be able to meet your obligations. But Nigeria is still behaving as if they have money like it used to.

“Nigeria has been in trouble for a while. We don’t have enough to cover our expenditures and we are not reducing our expenditures and we are not earning more. The federal government does not have the capacity anymore to manage the economy.”

In 2020, Obaseki raised alarm over the indiscriminate printing of money by the central bank of Nigeria, warning that such move would tank the economy and put a lot of strain on the Naira and cause its drastic depreciation which could see the nation’s legal tender exchange for over N1000 to a dollar.

The CBN and the president Muhammadu Buhari led federal government at the time debunked the governor’s assertion, saying the apex bank was not engaging in unlawful and arbitrary printing of money and that the Nigeria economy was in good shape.

However, in the dying days of the last administration, information emerged that the CBN under its erstwhile governor, Godwin Emefiele, acting on the orders of Buhari and some powerful persons in his government, printed N22 trillion in ways and means for the federal government with nothing to show for it.

This violated the ways and means act of the CBN which stated that the apex bank can only give loan worth of five percent of the previous fiscal year revenue to the government.

POPULAR TODAY

    • All
    • National
    • Local News
    • Politics
    • World News
    • Sports
    • XTRA

    ‘You’re wrong, Tinubu has 43 interventions in north’ — presidency replies Kwankwaso

    July 25, 2025

    APC chairman Yilwatda: No opposition left in Nigeria

    July 25, 2025
    Labour Party National Chairman, Barrister Julius Abure handing over the Certificate of Return to Hon Chuma Nzeribe, candidate for the Anambra South Senatorial election. Flanked by the National Legal Adviser, Barrister Kehinde Edun (left), Deputy National Chairman Chief Clement Ojukwu (right) and National Secretary, Alhaji Umar Farouk Ibrahim.

    Bye-elections: LP’s Nzeribe banks on Peter Obi to win Anambra south poll

    July 25, 2025

    Atiku attacks Tinubu, APC over alleged meddling in opposition parties

    July 25, 2025

    Discussion about this post

    ADVERTISEMENT
    NEWS PICKS — WITHIN NIGERIA

    WITHIN NIGERIA MEDIA LTD.

    NEWS, MULTI MEDIA

    WITHIN NIGERIA is an online news media that focuses on authoritative reports, investigations and major headlines that springs from National issues, Politics, Metro, Entertainment; and Articles.

    Follow us on social media:

    CORPORATE LINKS

    • About
    • Contacts
    • Report a story
    • Advertisement
    • Content Policy
    • Privacy Policy
    • Terms
     
    • Fact-Checking Policy
    • Ethics Policy
    • Corrections Policy
    • REPORT A STORY
    • PRIVACY
    • CONTACT US

    © 2022 WITHIN NIGERIA MEDIA LTD. designed by WebAndName

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • HOME
    • FEATURES
    • NEWS PICKS
      • BREAKING
      • National
      • Local News
      • Politics
      • Diaspora
      • Business
      • Education
      • Sports
      • World News
        • Africa
        • U.S
        • Asia
        • Europe
      • XTRA
    • ENTERTAINMENT
    • MORE
      • GIST
      • ARTICLES
      • VIDEOS

    © 2022 WITHIN NIGERIA MEDIA LTD. designed by WebAndName