In a compelling Twitter commentary, former Anambra State Governor and 2023 Labour Party Presidential Candidate, Peter Obi, voiced deep concern over what he perceives as misplaced priorities in President Bola Ahmed Tinubu’s 2024 budget, presented on Wednesday, November 29th, 2023. Titled the “Budget of Renewed Hope,” the proposal outlines a significant expenditure of 27.5 trillion naira for the Federal Government in 2024.
Obi, known for his fiscal prudence, questioned the government’s choices, especially in the face of economic challenges and widespread poverty. He stated, “Even as I am still studying the 2024 fiscal budget, I cannot wait as I am compelled to ask: what is exactly wrong with us as a country?”
He emphasized the disparity between the allocated budget for the Vice President’s housing, totaling N20.5 billion when considering previous appropriations, and the urgent issues confronting the nation, including rising poverty rates, deteriorating health facilities, and soaring unemployment.
The former Governor drew attention to the opportunity cost of such budgetary decisions, noting that the funds earmarked for the Vice President’s residence could instead address critical needs like the annual salaries of thousands of university professors or support student loans. Obi emphasized the need for a more balanced and responsible fiscal approach, urging leaders to prioritize investments in human capital development.
His tweets read; “I ask this question because it is hard for me to understand some of the recent happenings in our nation, in these critical times. The recent news about a budget provision of N15 billion for the construction of a new residence for the Vice President is both shocking and disheartening, considering the many important challenges facing our nation. Just recently in the Supplementary Budget, the sum of N2.5 billion was included for the renovation of the Vice President’s residence in Abuja, which means that he already has a residence.”
“Again, during the budget presentation, I heard the sum of N3 billion was allocated for the renovation of the Vice President’s residence in Lagos. If we total all these sums, we would have budgeted the sum of N20.5 billion for the housing of the Vice President at this critical time when we are not just the world’s poverty capital, but more people are falling into poverty, with so many Nigerians not knowing where their next meal will come from. Our health facilities have collapsed, and unemployment is skyrocketing.”
“I am convinced that 99.9% of Nigerians can only dream of living in the current residence of the Vice President. Several people employed in the universities are not being paid. Just to give an example, the salary of a professor in a Nigerian university is about N400,000, which without removing tax is about N5 million a year. What we have budgeted for the housing of the Vice President who is already luxuriously housed is, therefore, the annual salary of about 3000 professors! This is the finance needed to develop the much-needed human capital.”
“Former Anambra Governor Urges Prioritization of National Development Over Luxuries”
“The budget of N5 billion for student loans, which is yet to be disbursed is only a tiny percentage of the cost of the Vice President’s new home. We are projecting to use four times the amount for educating ALL Nigerian indigent students to house the Vice President, and we are being told there is nothing wrong with us. I am sure the major teaching hospitals in Nsukka, Lagos, Ibadan, and Zaria did not receive this much capital vote in the budget this year. We have had leaders that were exemplary in the past.”
Obi, invoking a historical example of sacrificial leadership, said, “Most Nigerians may not know that the popular 1004 flats in Lagos were a land allocated for the building of a Presidential Mansion for the then Head of State, General Murtala Mohammed.” He used this example to emphasize the importance of leaders who prioritize the welfare of the masses over personal luxuries.
In his call for a shift in leadership mindset, Peter Obi appealed to Nigerian leaders to demonstrate frugality, empathy, and a genuine commitment to addressing the challenges faced by the masses. “We need leaders who show compassion and are willing to sacrifice for common progress and development. Such compassionate and frugal leaders are critical in our journey to the New Nigeria.”
This commentary by Peter Obi serves as a poignant call for responsible governance and a reevaluation of budgetary priorities, resonating with a broader narrative of the need for a “New Nigeria” grounded in prudent and compassionate leadership.