Edo State Governor Godwin Obaseki Declares Nigeria ‘Technically Bankrupt’

Edo State Governor, Godwin Obaseki, has stated that Nigeria is technically bankrupt, raising concerns over the country’s financial stability. Obaseki made this assertion during an interview on Channels Television’s Politics Today on Thursday, where he discussed the country’s economic challenges and the need for urgent reforms.

The governor criticized the Federal Government for being stuck in outdated policies, arguing that Nigeria’s financial situation requires a comprehensive overhaul. He expressed frustration with the current approach to governance, noting that it does not reflect the realities of today’s economic environment. According to Obaseki, the country’s mounting debt and dwindling revenue streams have placed it in a precarious position.

He called for restructuring to address the systemic issues hindering Nigeria’s progress. Obaseki emphasized that without immediate reforms, including fiscal restructuring and a more transparent approach to economic management, the country’s financial health would continue to deteriorate. He urged the Federal Government to adopt modern solutions that align with global economic trends in order to reverse the country’s declining fortunes.

Obaseki’s statements have added to the ongoing debate about the state of Nigeria’s economy, with many observers agreeing that the country’s fiscal policies require significant adjustment. His call for restructuring reflects growing concerns among state leaders about the need for a more sustainable economic strategy at the national level.