Edo State Governor Warns of Severe Economic Crisis in Nigeria

Governor Godwin Obaseki of Edo state has sounded an alarm, asserting that Nigeria’s economy is grappling with a severe crisis precipitated by actions taken by the federal government. Obaseki conveyed this concerning perspective during a workshop held in Benin on Thursday, focused on deliberating the implementation of the state’s recently enacted Land Use Charge Law.

Addressing residents, Obaseki urged them to proactively contribute to their state’s development, emphasizing the urgency of collective efforts in light of the prevailing economic challenges. He stressed, “Nigeria’s economy is in serious crisis. We can’t continue to fold our hands and wait for a country that can’t help us. Rather, we will do all we can to help ourselves and our state.”

The economic landscape has been influenced by President Bola Tinubu’s reforms, particularly the removal of petroleum subsidies and the liberalization of forex exchange. These policy changes have contributed to escalating prices of goods and services, driving up inflation rates and engendering economic hardships that have reverberated throughout the nation, eliciting a sense of unease.

The Edo State Governor, Mr. Obaseki said the state government has resorted to “taking care of those who can’t feed themselves” in the state.

“From our revenue, we have decided to take money from our Internally Generated Revenue to look after those that can’t feed – the poorest of the poor. We are doing our best as an administration to make things easy in Edo State for our citizens who have trust in this government,” the governor said.

“If we are a truly thriving country, states will survive on their own, without relying on Abuja. Whether they give us or not, we would survive as a state. We have been surviving before now. Our administration is transparent and accountable, that is why the World Bank trusts us.”

Workers’ unions have kicked against the Nigerian government’s reforms, while Mr. Tinubu has continued to appeal for understanding and calm, arguing that his actions are for the good of the country.

The federal government on Thursday announced N5 billion palliative to each of the 36 states to cushion the effect of the removal of petrol subsidy.

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