Governor Godwin Obaseki of Edo State has declared that Nigeria is technically bankrupt. Speaking during an interview on *Channels Television's Politics Today* on Thursday, he expressed concerns about the nation's financial state and criticized the Federal Government for failing to adapt to current realities.
Obaseki emphasized the need for urgent restructuring, stating, "Nigeria is technically bankrupt. When a state or country is bankrupt, you restructure your affairs to reorganize and meet your obligations. But Nigeria is still behaving as if it has the same financial strength as before."
He further noted, "Nigeria has been in financial trouble for some time. Our expenditures exceed our earnings, and we are not making necessary adjustments. The federal government no longer has the capacity to manage the economy effectively."
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Nigeria is technically bankrupt. The federal government does not have the capacity to manage the economy the way it is doing today.
— Channels Television (@channelstv) September 19, 2024
- Godwin Obaseki, Governor of Edo State#PoliticsToday#CTVTweets pic.twitter.com/SYaL5lXARs
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