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+--- Thread: Peter Obi: Nigeria’s Economy On Life Support Over N22.7trn Debt (/showthread.php?tid=9598)
Peter Obi: Nigeria’s Economy On Life Support Over N22.7trn Debt - Edoman - 08-27-2018
Quote:Former governor of Anambra state, Mr. Peter Obi has warned that Nigeria’s economy is on life support following the unprecedented hike in the country’s debt profile.
Obi, who was speaking at the generation conference organised by the Summit Bible Church last weekend, stated that with the country’s debt put at N22.7 trillion and unemployment rate at 60 per cent, it will take a miracle for the country to survive unless people with proven experience in the management of resources are elected into leadership positions in the country.
He, therefore, pleaded with Nigerians to choose their leaders wisely during elections.
The former governor stressed that if 50 per cent of the country’s revenue is used to settle such debt, Nigerians will continue to groan.
He called on Nigerians to vote out people who lacked the technical know-how to revamp the economy and render good services.
“Our educational system is too low. Our per capita is $2000. And since your growth population is higher than the growth of your GDP the consequence in the future will be higher than what it is today.
“China adopted the Millennium Development Goals when it was told that it had the poorest people in the world and it took over 400 million people out of poverty,” he said.
He expressed optimism that Nigeria will get it right someday, emphasising that people who have ideas, capacity and have managed resources before should be brought forward to change the poor narrative.
The convener of the programme, Andy Osakwe, challenged youths to be active in politics. He said: “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 responsible for the not-so-great status of Nigeria today, there is a consensus 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.”
https://orientdailynews.com.ng/politics/n22-7trn-debt-nigerias-economy/
![[Image: Peter-Obi1.jpg]](https://orientdailynews.com.ng/wp-content/uploads/2018/04/Peter-Obi1.jpg)
RE: Peter Obi: Nigeria’s Economy On Life Support Over N22.7trn Debt - Edoman - 08-27-2018
President Muhammadu Buhari boasted his economic policies have moved Nigeria forward, with foreign reserves rising from $30 billion in 2015 to $47.5 billion in the first three years of his administration.
RE: Peter Obi: Nigeria’s Economy On Life Support Over N22.7trn Debt - Edoman - 08-27-2018
Buhari and debt are like beans and bread
Thanks to PMB's Finance Minister.
RE: Peter Obi: Nigeria’s Economy On Life Support Over N22.7trn Debt - Edoman - 08-27-2018
22.7trn and the worse of it all is unemployment rate ,mass sack of workers
RE: Peter Obi: Nigeria’s Economy On Life Support Over N22.7trn Debt - Edoman - 08-29-2018
Watching Sunrise this morning and the economic outlook looks so bleak.
1. Inflation jumps to 11.5 %
2. Unemployment has increased from 40% to 45%
3. Oil production has fallen to 1.7 Million bpd from 2 Million
4. 10 million Nigerians entered into severe poverty in 3 years hence 84 Million Nigerians are poor making Nigeria the poorest country in the world.
5. GDP fall from 2% to 1.5%
6. Out of school children has risen from 10 million to 13 million
7. Agriculture has shrunk to less than 1% due to herdsmen farmers clash.
8. 10 Million Nigerians lost their jobs in 3 years
9. Foreign direct investments drop to their lowest level in decades
If true, Nigeria is in real dire straits.
*Attah Essien*
RE: Peter Obi: Nigeria’s Economy On Life Support Over N22.7trn Debt - Edoman - 09-02-2018
Mr Peter Obi is currently trending on Nigerian media space after he appeared on Channels Television Breakfast Show today 2nd September
He debated with a professor of economics in University of Abuja and laid out solid points which earned him admiration and praises all over Nigerian media space.
Here are 10 quotes from his debate on Channels:
1. “If a man has not created wealth. He cannot manage wealth."
2. “Unemployment is worsening. Our unemployment ratio moved from 14.8% in 2017 to 18.8% this year. This means that more people have lost their jobs. We can’t survive like this.“
3. “You are borrowing money and the issue it was supposed to affect is not coming down. Poverty is increasing. Children out of school increased from 10 million to 12 million."
4. “I remember Ngozi Okonjo Iweala crying everyday, begging us to save this monies for the rainy day. All the governors disagreed. They said let us share it. Now we are borrowing to feed.”
5. “All I know is that governance has nothing to do with age. Today the youngest governor in Nigeria is an unmitigated disaster.”
6. “In a state in the North the number of children who sat for WAEC is 128. This state has about 5 million people. This is not acceptable.“
7. “I don’t have any single property in this country outside Onitsha. If you see any property outside Onitsha and they say it belongs to Mr. Peter Obi, burn it!“
8. “When you are borrowing for consumption, it gets to a stage when you cannot control it.”
9. “Nigerians cannot aim for skyscrapers when we cannot maintain simple toilets.“
10. “I cannot pay N250,000 for one night in a hotel. I wouldn’t sleep that night. I will feel like I have been robbed.“