\n
.Wants Govt To Cut Costs<\/b><\/p>\n
The 2023 Labour Party, LP, presidential candidate, Peter Obi, has said Nigeria needs 60 per cent reduction in the cost of governance.<\/p>\n
Obi said the decision of President Bola Tinubu to reduce the cost of Federal Government\u2019s official entourage during trips was scratching the surface.<\/p>\n
He wondered why the government had not disclosed how much would be saved as a result of the reduction.<\/p>\n
On Tuesday, Tinubu had announced a slash in the travel expenditure of government officials by 60 per cent.<\/p>\n
This reduction affected his entourage, Vice President Kashim Shettima, First Lady Remi Tinubu, and ministers.<\/p>\n
Reacting, Obi posted on X: \u201cThe just announced 60% cut in the size of federal official entourages on travels is one positive step towards the reduction of cost of governance and a way of halting wastage. But this measure is just scratching the surface as it is limited in scope and can only lead to a very negligible saving.<\/p>\n
\u201cWe are yet to be told how much savings this will amount to. While this modest step may be somewhat commendable, what is desirable should be both a 60% reduction in federal official overseas trips as well as a 60% reduction in the size of delegations.<\/p>\n
\u201cMost importantly, what our current economic reality demands is a 60% reduction in the total cost of governance at the Federal level. This implies that the recently passed federal budget needs to be revised to cut all wasteful and unnecessary items.<\/p>\n
\u201cThis is the level of cost-cutting and savings that can meaningfully impact the present state of the economy. This level of cut in the cost of government should lead to substantial savings.\u201d<\/p>\n
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