Edo State Governor, Godwin Obaseki has declared that the Federal Government no longer has the capacity to manage the economy as Nigeria is technically bankrupt.
He criticized the government for being stuck in outdated practices and stressed the urgent need for restructuring to enable the country to move forward.
During an interview on Channels Television’s Politics Today on Thursday, Obaseki expressed his concerns about the country’s financial situation.
“Nigeria is technically bankrupt. When you are bankrupt anywhere in the world like in the state.
“You restructure your affairs so that you can reorganize and be able to meet your obligations. But Nigeria is still behaving as if they have money like it used to.
“Nigeria has been in trouble for a while. We don’t have enough to cover our expenditures and we are not reducing our expenditures and we are not earning more. The federal government does not have the capacity anymore to manage the economy.”
