In a passionate statement through his X account, Peter Obi, the Labour Party’s presidential candidate for the 2023 elections, voiced his concern over the current state of human capital development in Nigeria.
Obi pointed out that the insufficient attention to this crucial aspect is at the core of many investment challenges faced by the nation.
Expressing disbelief, the former Anambra governor highlighted a disconcerting budget allocation in the 2024 fiscal year. He pointed out that a mere N5 billion was designated for student loans, while a staggering N6 billion was allocated for constructing a car park for legislators. This stark contrast led Obi to emphasize the urgent need for Nigeria to reevaluate its governance expenditures and prioritize areas that contribute to sustainable growth and development.
Obi cautioned that if the country fails to address the issues of excessive governance costs and refocus on critical developmental areas, tangible and lasting progress may remain elusive. He criticized the lack of emphasis on crucial investments for the people, stating that Nigeria’s budget was signed and presented to the world without prioritizing essential areas that drive national growth.
In his words, Obi emphasized, “Today, in this country, the inadequate attention being paid to human capital development is at the root of most investment challenges. This malaise has become a recurring decimal in our political life due to poor governance and persistent leadership failure.”
He added, “It is therefore shocking that our budget was signed and released to the world without prioritizing the critical areas of investment for the people. A sum of N5 billion was budgeted for student loans, while a larger sum of N6 billion was budgeted to build a car park for legislators, who recently used 12 times the amount of student loans to buy official cars. Now we are using an amount more than was budgeted for student loans to provide legislators with car parks. Nigeria remains a country without a national library.”
