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Peter Obi: FG's GDP Growth Meaningless With Rising Poverty - Politics - Nairaland 183169

Peter Obi: FG's GDP Growth Meaningless With Rising Poverty (10425 Views)

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BeeBeeOoh(m): 8:14am On Sep 13, 2021
THE vice presidential candidate of the Peoples Democratic Party in the 2019 general elections, Peter Obi, has faulted the latest National Bureau of Statistics report which stated that the country’s economy has recorded a five per cent growth to Gross Domestic Product growth.

He added that growth with rising poverty in the country was meaningless.

Obi spoke on Sunday evening when he featured on a Channels Television programme, ‘Politics Today’.

He specifically said rather than celebrating growth to GDP, which had no impact in the citizenry, the Federal Government should stop borrowing for consumption and face investment.

The former governor of Anambra State said the fact that the Federal Government had been borrowing money and spending it on consumption had not made the NBS report to make significant impact in the lives of an average Nigerian.

Obi noted that the Federal Government should concentrate on the small and medium enterprises, education as well as target its citizens in the Diaspora if it really wanted to make significant impact in the lives of its citizenry.

Obi said, “The type of growth I want to see is the one that will pull Nigerians out of poverty by making the people to have disposable income and be able to feed themselves.

We need the type of growth that will educate our children, provide primary health care for all the communities. We don’t need growth based on speculations that government officials are celebrating all over the places.”

Obi insisted that growth to GDP could only be celebrated in a country when people are happy with their disposable income and be able to take good care of themselves and of their family.

He said, “The biggest engine for economic growth is the micro, small, medium enterprises. That is the practice all over the World.

“That engine today is not being ed in Nigeria. Nigeria has a total of 40 million SMEs but there is not properly articulated fiscal and monetary policy to the critical sector.

“The entire loan to private sector on Nigeria today is about N30trn. Less than N1.5trn is going to the SMEs. This is less than five per cent of the entire loan. This means Nigeria is not ing its engine that can enhance the nation’s economic growth.

“The SMEs are the biggest employer of labour in many advanced countries of the world. We need fiscal monetary policies that would invest in this engine of growth in order to create jobs.”

https://punchng.com/fgs-gdp-growth-meaningless-with-rising-poverty-obi/

38 Likes

Jostoman: 8:16am On Sep 13, 2021
Don't mind them, the rate at which food stuff price is going up now is very alarming. The level of poverty in Nigeria now na follow come charger.

93 Likes 8 Shares

Aidejay(m): 8:18am On Sep 13, 2021
Gbam.... honest and true point of view.

GDP is an irrelevant concept to the average nigerian on the street.

"Obi insisted that growth to GDP could only be celebrated in a country when people are happy with their disposable income and be able to take good care of themselves and of their family."

- that is to say, GDP is only relevant when money still dey for hand after you don take care of yourself and your people dem.

87 Likes 4 Shares

Grace001: 8:18am On Sep 13, 2021
GDP growth in the paper and poverty, hardship and suffering in the reality

Is that one growth? But anyways government knows they need to tell the masses what they want to hear.

63 Likes 3 Shares

PIMPAR: 8:25am On Sep 13, 2021
What did he do to change the poverty ratio when he was a Gov in his state.

16 Likes 4 Shares

Okoroawusa: 8:27am On Sep 13, 2021
Because if na your government you no go celebrate a growth in GDP...

I thought he would have even said that it's a lie but he didn't. Which means he knows that there was actually a growth.

That's a step in the right direction.

I Love PMB

15 Likes 4 Shares

mrvitalis(m): 8:28am On Sep 13, 2021
PIMPAR:
What did he do to change the poverty ratio when he was a Gov in his state.
He ruled anambra and the results are there go and see

127 Likes 6 Shares

PIMPAR: 8:29am On Sep 13, 2021
The Idiot will quote China policy of growth economy but silent on china policy of dealing with those who might want to play fast on Chinese treasury.

14 Likes 2 Shares

PIMPAR: 8:30am On Sep 13, 2021
mrvitalis:

He ruled anambra and the results are there go and see
You are right. He ruled Anambra, that was while Doctors went on strike for almost 13 months during Obi tenure .
Most of you have very short memories

Obi can only deceive gullible followers/ IPoB like una

16 Likes 2 Shares

mrvitalis(m): 8:30am On Sep 13, 2021
Okoroawusa:
Because if na your government you no go celebrate a growth in GDP...

I thought he would have even said that it's a lie but he didn't. Which means he knows that there was actually a growth.

That's a step in the right direction.

I Love PMB
Basically there is real sector GDP growth , that's not what Happened ...oil price can raise we would have a GDP growth ...but it's effect ok the people are nothing

Akwa ibom have high GDP which is mostly from oil but the real sector GDP is week

Same thing can be said of bayelsa

21 Likes

Blackfire(m): 8:32am On Sep 13, 2021
This man right here will implement policies that will harm the North hegemony if he becomes president, and let me tell you, among all the southerners aspiring to be president you are the most hated, so you will never be president



North2023

2 Likes

Okoroawusa: 8:34am On Sep 13, 2021
mrvitalis:

Basically there is real sector GDP growth , that's not what Happened ...oil price can raise we would have a GDP growth ...but it's effect ok the people are nothing

Akwa ibom have high GDP which is mostly from oil but the real sector GDP is week

Same thing can be said of bayelsa
Ina akona ka ima ife ina ako... akpokwanu ndi economists idakaputa?

6 Likes

BruncleZuma: 8:37am On Sep 13, 2021
cheesy grin grin grin
richidinho(m): 8:38am On Sep 13, 2021
Ok
ogododo: 8:38am On Sep 13, 2021
BeeBeeOoh:


https://punchng.com/fgs-gdp-growth-meaningless-with-rising-poverty-obi/

No be lie, come to Igbudu market, food no come easy.
Weduim: 8:38am On Sep 13, 2021
Really
bigdammyj: 8:38am On Sep 13, 2021
Political talk

1 Like

Sonnobax15(m): 8:39am On Sep 13, 2021
lipsrsealed
sapientia(m): 8:39am On Sep 13, 2021
Watch Zone Bs decend on the messenger

He didnt expose a mystery

He just said what we have been saying

13 Likes 1 Share

AfroBeatDiary: 8:39am On Sep 13, 2021
Naso
omoyankee3(m): 8:39am On Sep 13, 2021
yea
Ogaga87(m): 8:39am On Sep 13, 2021
Dovegrey: 8:40am On Sep 13, 2021
.
Sorsilo4life(m): 8:40am On Sep 13, 2021
na wa o. the best thing na to use MAXI EBUKA pattern. PRESS AM comot 4 naija.
oluseyiforjesus(m): 8:40am On Sep 13, 2021
Ok
PIMPAR: 8:40am On Sep 13, 2021
Onyenwem:
I agree with him
Because you practically don't make use of your sense

Obi will definitely continue to make use of your sense for you

2 Likes 1 Share

greenie77: 8:41am On Sep 13, 2021
Growth in Gross Domestic Product but abject poverty on ground!

11 Likes

StrongInBed: 8:41am On Sep 13, 2021
PIMPAR:
What did he do to change the poverty ratio when he was a Gov in his state.

But his State have the lowest poverty rate while your State is littered with destitutes.

Kiss the ugly truth.

36 Likes 3 Shares

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