The 2023 Labour Party presidential candidate, Peter Obi, has emphasized the need for a 60% reduction in Nigeria’s governance costs.
He expressed skepticism about President Bola Tinubu’s move to cut the official entourage’s cost during trips, questioning the government’s transparency in disclosing the actual savings achieved.
Tinubu recently declared a 60% reduction in government officials’ travel expenses, impacting his entourage, Vice President Kashim Shettima, First Lady Remi Tinubu, and ministers.
In response, Obi stated on X: “The just announced 60% cut in the size of federal official entourages on travels is one positive step towards the reduction of cost of governance and a way of halting wastage. But this measure is just scratching the surface as It is limited in scope and can only lead to a very negligible saving.
“We are yet to be told how much savings this will amount to. While this modest step may be somewhat commendable, what is desirable should be both a 60% reduction in federal official overseas trips as well as a 60% reduction in the size of delegations.
“Most importantly, what our current economic reality demands is a 60% reduction in the total cost of governance at the Federal level. This implies that the recently passed federal budget needs to be revised to cut all wasteful and unnecessary items.
“This is the level of cost-cutting and savings that can meaningfully impact the present state of the economy. This level of cut in the cost of government should lead to substantial savings.”