The Labour Party‘s presidential candidate for the 2023 elections, Peter Obi, has praised the recent announcement of a cut in presidential travel expenses.
It was revealed by the President’s spokesperson, Ajuri Ngelale, on Tuesday that President Bola Tinubu had ordered a reduction in both the expenses and the number of people accompanying him on his foreign and local trips.
The reduction also applies to the Vice President, the First Lady, ministers, and other public office holders. The aim of this decision is to prevent wastage and reduce recurring costs.
In response to this development, Peter Obi expressed his approval in a post on his official X handle on Wednesday. He believes that this reduction is a positive step towards reducing the cost of governance and preventing wasteful spending.
However, he also believes that the reduction is not sufficient and will only result in minimal savings. Obi urges the Presidency to disclose the exact amount of savings that will be achieved.
Additionally, he calls on President Tinubu to implement a 60% reduction in official overseas trips and a 60% reduction in the size of delegations.
He wrote: “The 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. We 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. Most 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. This 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.
“Such savings should be used to fund the productive sectors of the economy and the much-needed social investments, especially in three key areas: education, healthcare, and the migration of millions of Nigerians from poverty.
“Most importantly, it is not enough to announce arbitrary cuts in the size of federal official entourages. The nation needs to be informed of how much the measure will save and where such savings will be applied.
“Our problem as a nation has gone beyond token populist gestures and announcements. We must be informed of the real details of the measures being implemented on our behalf.
“For a government that has made a hobby of indiscriminate borrowing, the only way to salvage the economy is to drastically cut the cost of government by reducing wasteful expenses and spending on inessential luxury items.”
