We will wake up one day and the naira will be N1,000’ – Governor Obaseki

ECONOMY‘We will wake up one day and the naira will be N1,000’ – Governor Obaseki

Edo State Governor, Godwin Obaseki has raised an alarm over the state of Nigeria’s economy and country’s rising debt profile. According to him, borrowing money to meet the country’s ailing economic needs is no longer tenable.

The Governor spoke on Wednesday during a meeting with the Transition Committee members at the Government House in Benin.

“In another year or so, where will we find this money that we go to Abuja to share every month? Last month, we got FAAC for March. The Federal Government printed an additional ?50 to ?60 billion to top-up for us to share,” he said.

“We say remove subsidy, they say no. This April, next week again, we will go to Abuja and share. By the end of this year, the total borrowing is going to be in excess of ?15 to ?16 trillion.

“My worry is that we will wake up one day like Argentina, the naira will be ?1,000, ?2,000 and will be moving because we don’t have money coming in. You are just borrowing, borrowing and borrowing without any means or idea of how to pay back.” he said

https://www.studentvillage.com.ng/questions/question/we-will-wake-up-one-day-and-the-naira-will-be-n1000-governor-obaseki/

Useless people, you don't patronize Nigeria university, every Friday you fly to Dubai just to fornicate with our actress, You Obaseki use foreign product, I was in egypt before covid-19 ,99.99% of what they used is produced by their country, Useless leaders, my regret was not joined military when I had the opportunity by now I would have staged coup kill all of you, I just hate all of you... Rubish

The worst is when the government borrow for recurrent expenditure.

The amount of money that public office holders lavish can be harnessed and spent responsibly so there will not be any need of borrowing. Public office holders, including the president and his aides need to cut down their costs so we can have enough money in the system. Subsidy removal or not is almost insignificant. If not for the corruption in the subsidy of a thing, I will not even mention it as a solution to external borrowing.

But wait o when will Nigeria stop the importation of petroleum products?Is it not crazy how we turn around and buy the same thing that we sold out but at exorbitant prices? If there is no importation of petroleum products, should we be bothered about subsidy?

As a governor what have you done in your state to improve the economy...stop wailing and start working..

we that saw these things told Igbos in 2015 but they said the next best thing that will happen to Nigeria after suya and cucumber is Buhari

See am now

You're part and parcel of this as a governor, NEVER exclude yourself.
WHAT ARE YOU DOING TO CUSHION THIS EFFECT

Useless leaders only do anything that causes pains to their masses even if it causes them pains for their own personal gains !!!

You have access to the president. Tell him face to face and stop disturbing us here

supportnija:
Useless people, you don't patronize Nigeria university, every Friday you fly to Dubai just to fornicate with our actress, You Obaseki use foreign product, I was in egypt before covid-19 ,99.99% of what they used is produced by their country, Useless leaders, my regret was not joined military when I had the opportunity by now I would have staged coup kill all of you, I just hate all of you... Rubish

we know that you are in pains because Obaseki talked about The useless economy we are running in Nigeria presently.

This will happen in the northern Nigeria after we break up, foolish people

I am not a fan of obaseki. Are you sure obaseki said this?? There was an error in the title and the error kept repeating in the write up. This could be the hand work of a blogger who doesnt know his left from his right.

Many so called Nigerians are even so tired of the shithole ,

ThatFairGuy1:
You're part and parcel of this as a governor, NEVER exclude yourself.

WHAT ARE YOU DOING TO CUSHION THIS EFFECT

you hear say Uk the repair Oga ear? him can't hear so our government. my school primary school teacher can run this economy perfectly than the mess we see ourselves but the chance is not giving to him.

Jostoman:
we know that you are in pains because Obaseki talked about The useless economy we are running in Nigeria presently.

See another hypocrite, Obaseki is a governor, what effort did that useless fucker do to create jobs aside from creating the like of DPO OSARO, some of you are online defending rubis, I know most of these useless people more than you, in 2017 April i was in Adis, one of the DG in Nigeria came with a female KOPA serving in his office spending public fund on her ... Stop say unnecessary things here, I know these people more than you.

If not that ize-iyamu was unwise, obaseki would never have remained governor

Ok

mtcheeew