Oil Price Fall Not Cause Of Ailing Economy, Says Obi | Independent Newspapers Limited
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Oil Price Fall Not Cause Of Ailing Economy, Says Obi

Posted: Jun 17, 2016 at 6:11 am   /   by   /   comments (1)

Chukwujekwu Ilozue

 Awka – Mr. Peter Obi, former governor of Anambra State, has blamed high cost of governance rather than plummeting price of crude oil as the major source of Nigeria’s economic problem.

Obi spoke on Thursday in an interview shortly after attending the presentation of two books, ‘Here to Serve: Advocacy for Good Governance and Renascent Past: A Collection of Poems’, by Hon. Oseloka Henry Obaze, the former Secretary to Anambra State Government (SSG), who served in his government for two years.

Obi said that Nigerians must brace up for the worst recession in history where prices are going up but there is no money.

He insisted that this is not the first time the price of crude oil fell in the international market, saying that in 2009, the price of oil fell to $30 per barrel and yet the country survived.

He added: “Let nobody say that the bad situation is caused by low oil price. The cost of governance in Nigeria is unacceptable and foolish.”

Obi said that he has already given example of himself when he was governor and he cut cost of governance, insisting that even if bailout is extended to the 36 states in the country, without genuine efforts to cut cost of governance, the economic situation would not improve.

On the book presentation, he said that Obaze meant well for Nigeria and Anambra State by putting down his experience as a guide for future governments.

Obaze had chronicled the achievements of Anambra State government when Obi was governor; a gesture that was praised by many people  who attended the ceremony as not only desirable but encouraging.

Hon. Justice Peter Umeadi, Chief Judge of Anambra State,  for instance who was Obaze’s class mate at Christ The King College, Onitsha, many years ago said he was not surprised that Obaze could write two books within one year because of his hard work and cool headedness.

He said he only wondered how he was able to cope with the murky waters of Nigeria politics.

Comments (1)

  • Jun 17, 2016 at 9:53 pm HOLYMOSE

    Greed is the problem.

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