I will Reduce Costs of Governance to Reduce Nigeria's Debts – Obi

Alt: = "Peter Obi"

The presidential candidate of the Labour Party, Peter Obi has said he will reduce cost of governance to reduce Nigeria’s debt burden, adding he will borrow only when it becomes unavoidable, and that will be strictly for regenerative purposes and production.

Obi stated this while reeling out his governance agenda to Nigerians in Michigan, United States, on Monday.

In his words he said: “We shall pursue a drastic reduction in cost of governance and corruption; Improve ease of doing business to attract FDI to jumpstart industrialization and when borrowing is unavoidable, it will be strictly for regenerative purposes and production.”

His speech was contained in a statement released by the Obi-Datti Media office on Tuesday.

The Labour Party presidential candidate, who spoke on the theme, “Nigeria Diaspora and Capacity Building,” noted that reduction in cost of governance will help reduce the nation’s debt and tackle corruption, promising that his administration will drastically reduce costs of governance, if elected.

Speaking on power, Obi said he is aware that power has been moved from exclusive legislative list to concurrent list, and promised to broadening it by bringing in the private sector “through a multifaceted approach particularly the transmission infrastructure.”

He also commended the efforts the youths have put in and encouraged them to be more resilient.

He said, “The journey to rescue Nigeria could not have gained momentum without the proactive role of our youth. I salute them.

“As we all know, two components of the power sector (generation and distribution) have been privatized and liberalised leaving the most critical component (transmission) in the hands of the government which is causing inefficiency and darkness.

“We will, therefore, vigorously pursue the liberalization of the transmission infrastructure in addition to a robust power mix- embedded power and renewable energy,” he said. 

Obi, who was Anambra State governor for 8 years, never borrowed money, and yet left about N75 billion in Anambra State purse, while leaving office. He has several times stated that he was able to achieve that feat by reducing costs of governance in the state.

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