Godwin Obaseki, the governor of Edo State has stated that Nigeria is technically bankrupt.
Obeseki during an interview on Channels Television’s Politics Today on Thursday, elaborated on his concerns over the country’s financial health.
While criticising the Federal Government for being stuck in the past, the governor emphasized the urgent need for restructuring to facilitate progress.
“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.”
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