Obi said that the Federal Government's statements were "without foundation" and that it had neglected to reveal the entire scope of the nation's financial issues in a statement that was made public on Thursday, Nov. 16.
Obi stated, "I recently came across a widely reported article from the current Federal Government, run by the APC, claiming that they took over a bankrupt country from the previous APC administration. However, the report omitted to mention what they inherited, which would have made us eligible for bankruptcy.
The tight accountability and transparency that characterize responsible governance are two important aspects. This requires the government to reveal the precise amount of the deficit they inherited. To help the public understand where we are and where we are going, what is inherited should be made public. Remember that the prior APC government asserted a comparable claim against the PDP administration in 2015, claiming that the latter had transferred power to them without disclosing to the public what it had truly received."
Obi said that the Federal Government had raised the nation's debt from N12.6 trillion in 2015 to N87 trillion in 2023 and that no important development indices, like as security, health, education, or the fight against poverty, had been improved.
"Instead, the country's status on every development metric worsened, resulting in the current depressing scenario," he continued. Nigerians are aware of the dire situation they live in every day. Now, what they want to hear on a daily basis are quantifiable and validated actions to make things better."
Obi also questioned the justification for a few of the spending items included in the newly approved supplemental budget.
"The government's worry about the dire status of our finances begs the question of whether some expenditure items in the newly passed supplemental budget make sense," Obi stated.
The information that has come to light further supports my claim that, ever since election season, the expense of government has to be significantly cut. Instead of wasting money on non-essentials, a bankrupt nation should allocate all of its resources to vital development sectors including healthcare, education, security, and the fight against youth unemployment. Therefore, we anticipate taking quantifiable and validated actions to make improvements."