POLITICS

Nigeria bankrupt, needs restructuring to flourish -Obaseki

Published

2 years ago

September 20, 2024

Austine

The Edo State Governor, Godwin Obaseki says Nigeria is technically bankrupt at the moment and therefore needs to restructure to maximize its full potential adding that the federal government was still “Stuck in the past”.

The governor made this statement during a one-on-one interview on the Channels Television programme “Politics Today”
on Thursday evening.

Obaseki lamented that the country neither had enough nor earned enough to cover its expenditure,in spite of that, continues to increase its spendings at the detriment of the already fragile economy.

He further said that the government must ensure that individual states took advantage of economic opportunities, noting that the Federal Government could not continue to carry the burden of managing resources.

“Nigeria is technically bankrupt. And I mean it. When you are bankrupt anywhere in the world, like in the United States, you file for what they call Chapter Eleven. You restructure your affairs so that you can reorganize and meet your obligations. Nigeria is not restructuring in that sense; it still behaves as if it had money like it used to.

“Nigeria has been in trouble for a while. I won’t say insolvent, but technically so, in the sense that we don’t have enough to cover our expenditure, we are not reducing our expenditure, and we are not earning more.”

“First, the Federal Government does not have the capacity to manage the economy at the scale and in the way it is currently doing. You’re producing 1.3 million barrels of oil, right? Because you are trying to do it centrally. We have 147 oil wells in Edo, and only 53 or fewer are producing.”

“Unless you create a new design that allows the individual states to take advantage of the economic opportunities they have, stressing the assets of this country and paying what they need to pay to the central government, the federal government cannot sit and try to micromanage the country and its assets. It has shown that it cannot. It doesn’t have the capacity to do so,” he said.

He also expressed his disbelief that the Federal Government was still stuck in the past stressing that the current structure of the country was no longer sustainable and that a new robust structure was needed to effectively manage the economy.

“I think for me, it’s like this federal government is stuck, and stuck in the past. Because you cannot resolve a malignant problem using the same tools you have used over the years.

“It’s not that the people there are not smart; it’s not that they’re stupid. It’s more that they just don’t have the courage to make the decisions they need to make.

“The problem with Nigeria today is structural. The structure we have is expired; it’s outdated. We need a new structure to run the economy of the state. If it doesn’t happen, we are not going anywhere,” Obaseki stated.

Related Topics:bankrupt Restructuring solvency

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POLITICS

BENJAMIN KALU CELEBRATES ASSOCIATE PROF PHILLIPS OKORE NTO ON HIS BIRTHDAY

Published

7 days ago

October 28, 2026

Austine

The Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Okezie Kalu, has congratulated Associate Prof Phillips Okore Nto on his birthday, describing his life of service as a remarkable contribution to the development of Abia State.

In a goodwill message dated October 26, 2026, Kalu described Nto as a dear brother whose dedication, integrity and commitment to duty have contributed immensely to the growth of the state, particularly in public administration and educational development.

The Deputy Speaker expressed gratitude to God for the gift of Nto’s life and the many years of purposeful service he has rendered to society.

He noted that Nto’s contributions to public administration and the advancement of education remain valuable to the progress and development of Abia State.

Kalu prayed for God’s continued blessings upon Nto as he marks another year, wishing him good health, renewed strength, abundant joy and greater accomplishments in the years ahead.

“May Almighty God grant you good health, renewed strength, and abundant joy. May He continue to open doors of honour and fulfilment for you, and may the years ahead bring you greater accomplishments,” he said.

The Deputy Speaker concluded by extending his warmest felicitations and best wishes to Nto on his birthday, expressing hope for many more fruitful and fulfilling years.

POLITICS

Ikpeazu Celebrates Associate Professor Philip Nto on Birthday, Hails Contributions to National Development

Published

7 days ago

October 28, 2026

Austine

Nigeria’s Ambassador to Spain, His Excellency Okezie Victor Ikpeazu, has congratulated Professor Philip Okore Okpo Nto on his birthday, praising his contributions to academia, public service and national development.

Ikpeazu, in a goodwill message dated October 26, 2026, and addressed to Nto at Michael Okpara University of Agriculture, Umudike, Abia State, described the professor’s career as a reflection of dedicated service, intellectual rigour and commitment to nation-building.

Professor Nto, who celebrates his birthday on Wednesday, October 28, 2026, is a distinguished academic at Michael Okpara University of Agriculture, Umudike, and a former Abia State Commissioner for Finance and Economic Development.

The ambassador also acknowledged Nto’s contributions as a World Bank consultant, noting that his accomplishments in academia, research and public service demonstrated vision, integrity and a commitment to societal progress.

Ikpeazu further commended the professor’s leadership qualities, dedication to mentoring younger generations and efforts towards the development of his community and Abia State.

He prayed for God’s continued blessings upon Nto, wishing him good health, wisdom, peace and long life.

The ambassador also expressed optimism that the professor would attain greater heights in his service to humanity, while wishing him a joyful birthday celebration filled with fulfilment and memorable moments with family and loved ones.

POLITICS

Abia APC Chairman, Chukwu, Felicitates Ass.Prof Philips Nto on his Birthday

Published

7 days ago

October 28, 2026

Austine

The Abia State Chairman of the All Progressives Congress (APC), Hon. Chijioke Chukwu, has congratulated Dr. Philips Nto on his birthday, describing him as a committed party member, patriot and dedicated supporter of the party.

Chukwu, in a birthday message, commended Nto for his loyalty, dedication to the APC and commitment to the development of Abia State.

He described the celebrant as a senior brother he holds in high regard, noting that his character, courage, honesty and wealth of experience make him a worthy example of purposeful service.

According to the APC chairman, Nto’s steadfast commitment to the progress of Abia State and his belief in the collective aspiration for a better state reflect the values of loyalty, patriotism and selfless service.

Chukwu noted that the birthday celebration was an opportunity not only to mark another year in Nto’s life but also to recognise his personality and the values he represents.

While wishing him a fulfilling year ahead, the APC chairman prayed that Almighty God would grant him many more years in good health, peace of mind and abundant blessings.

He also prayed for greater opportunities for the celebrant to serve humanity and contribute meaningfully to the development of Abia State.

Chukwu further expressed hope that the years ahead would bring Nto greater joy, lasting peace and the fulfilment of his heart’s desires.

He concluded by wishing the celebrant a happy birthday and continued success in his personal and public endeavours.