The 2023 presidential candidate of the Labour Party, Peter Obi, has emphasized the need for a 60% reduction in Nigeria’s cost of governance. Obi expressed his viewpoint in response to President Bola Tinubu’s decision to decrease the travel expenses of government officials by 60%, including his own entourage, Vice President Kashim Shettima, First Lady Remi Tinubu, and ministers. Obi questioned why the government had not disclosed the anticipated savings resulting from this reduction and suggested that such measures, while commendable, only scratch the surface.
In a post on X, Obi stated, “The recently announced 60% cut in the size of federal official entourages on travels is a positive step towards the reduction of the cost of governance and a means of curbing wastage. However, this measure is limited in scope and is likely to result in only minimal savings. The public is still in the dark about the actual amount of savings this move will yield. While acknowledging the commendable nature of this modest step, what is truly needed is a 60% reduction in federal official overseas trips and a corresponding 60% decrease in the size of delegations.”
Furthermore, Obi stressed the importance of a comprehensive approach, asserting, “Most importantly, our current economic reality necessitates a 60% reduction in the total cost of governance at the Federal level. This implies a revision of the recently approved federal budget to eliminate all wasteful and unnecessary items. Such a significant cut in the cost of government is essential for generating substantial savings that can meaningfully impact the current state of the economy.”