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It’s Time To Stop Financial Indiscipline—Peter Obi Rebukes FG
It’s Time To Stop Financial Indiscipline—Peter Obi Rebukes FG
Former presidential candidate of the Labour Party (LP), Peter Obi, has voiced strong criticism against what he terms as the financial indiscipline of the Nigerian government. Obi highlighted his concerns in a post on his X handle on Monday, drawing attention to the government’s questionable budget allocations amid critical educational deficits……..CONTINUE READING....KINDLY READ THE FULL STORY HERE▶
Obi pointed out the alarming statistics of Nigeria’s education sector: secondary school enrollment stands at 28%, starkly lower than the global average of 80%. Similarly, Nigeria’s tertiary school enrollment is less than 15%, compared to the global average of 55%. Despite these figures, the government has allocated significant funds for less critical areas. Specifically, Obi noted that N6 billion has been budgeted for the National Assembly car parks and N4 billion for recreational facilities, whereas only N1 billion has been approved for the construction of hostels in 12 tertiary institutions.
In his post, Obi stated, “As the giant of Africa that we are, I remain concerned about our fiscal indiscipline as a nation. Imagine the situation in our education sector, where the global average of secondary school enrollment is above 80 per cent, while in Nigeria it is 28 per cent. The global average of tertiary school enrollment is above 55 per cent, while Nigeria is less than 15 per cent. Yet our budget for the National Assembly car parks is N6 billion. The budget for the National Assembly recreational facilities is N4 billion. Approved for the construction of hostels in 12 tertiary institutions is just N1 billion.”
He emphasized the urgent need to stop financial indiscipline and to reallocate resources to critical areas that will foster human and national development. This call to action underscores the importance of prioritizing education and other vital sectors over less essential expenditures, aiming to improve Nigeria’s socio-economic standing.
Obi’s rebuke comes at a time when the nation grapples with various challenges, and his plea for financial discipline resonates with the need for a more prudent and impactful allocation of the country’s resources.
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