Recession: Peter Obi lambasts Buhari, says government borrows to fund corruption

The presidential candidate of the Peoples Democratic Party for the 2019 elections, Peter Obi, has lambasted President for the worsening economic situation in the country.

Obi spoke on Sunday on a Channels Television programme, Politics Today.

The former Anambra State Governor said the Buhari Administration was borrowing for its officials to steal.

He also said that instead of focusing on the 2023 election and who succeeds Buhari, the government should pay attention to the people’s survival.

He said: “Every other country is discussing the recession and how to pull their people out of poverty.

“So what we should do now is to concentrate on the monetary and fiscal policies to start pulling people out of poverty.

“If you see what happened with recent protests, you could see that we are heading into a problem.

“And I want our energy to be concentrated in that problem.

“The politicians, the class where I belong, should do more seriously, across party lines, to be able to arrest the situation before it gets out of hand.

“For me, it is in discussing how do we put food on people’s table.

“Elections will come and we can see how to select the best.

“But let’s deal with the recession we have just entered before 2023.”

Speaking on the borrowings of government for funding corruption and failure to reduce cost of governance, Obi said: “The cost of governance is not acceptable.

“There is too much waste.

“This recession is going to be worst than in 2016 because the monies we borrowed then were not properly invested.

“What we need now is to go into a vigorous regime of formulating implementable and measurable monetary and fiscal policies to drive ourselves out of the present situation.”

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