Nigeria’s economy on life support tending N22.7tr debt – Obi

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A former governor of Anambra, Mr Peter Obi, at the weekend said that Nigerian economy is currently on life support due to government’s rising debt profile estimated at about N22.7 trillion.

Obi, disclosed this at the ‘2018 This Generation Conference’, organised by the Summit Bible Church, with  the theme: “Taking Respon￾sibility, Making Nigeria Great,” held on Saturday, in Abuja.

According to him, a high  unemployment rate orches￾trated by bad governance has remained a perenial challenge to the economy and noted that even if 50 per cent of the country’s revenue was used to settle its huge debt, Nigerians will continue to groan.

The former governor, who was the guest speaker at thye occasion, implored voters to weed out people who lacked the technical know–how to revamp the nation’s economy and render good services.

“Our educational system is too low. Our per capita is N2000, and since our population growth is higher than the growth of our GDP, the conse￾quences in the future will be higher than what it is today.

“China adopted the Mil- lennium Development Goals (MDGs), when it was told that it had the poorest people in the world and it took over four hundred million people out of poverty.”

Obi, however, said that for Nigeria to get it right, people who have ideas, capacity and have managed resources before should be brought for￾ward to change the poor narrative.

In his remarks, Convener of the programme, Pastor Andy Osakwe, challenged youths to be active in politics and take their destinies into their hands not by thuggery but by asking questions and voting competent representatives.

“A lot of people tend to blame other people for the current state of our nation; it is time for us to take ownership of our condition and also our destiny.

“Even though different generations have taken different positions as to who is respon￾sible for the not-so-great status of Nigeria today, there is a con￾sensus on the fact that Nigeria already has within its borders all that is required to become one of the most secure and prosperous countries in the world,” he said.

Osakwe said Nigeria was already postured to become one of the advanced nation on the planets due to its extensive human and natural resources, coupled with its high level of educated people.

He also listed the country’s abundant mineral resources, its rich and arable land that is capable of feeding Africa, amongst other attributes of its greatness.

“Therefore, it doesn’t matter if you were born in the 30’s or in this millennium, as long as you are alive today; you have a responsibility to contribute towards making Nigeria great.

“While we may be disap￾pointed with the present state of our nation, we must resolve together to rise above the mediocrity of the past, so that we can start moving forward to our place of glory, “ he stressed.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SUN


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