Over the weekend, Nigeria’s economy recorded its 2nd recession in 5 years.
The report was contained in the Q3 economic report by Nigeria’s National Statistical Agency NBS published last week.
Following the development, the Socio Economic Rights and Accountability Project, SERAP announced, Sunday, that it has written an open letter to President Muhammadu Buhari.
It admonished the President on the excessive cost of governance and asked him to cut same and implement bold transparency and accountability measures that would address the indices in the 2nd recession in 4 years.
Writing on behalf SERAP, the Deputy Director, Kolaole Oluwadare said that:
“Following Nigeria’s second recession in 5 yrs., we’ve asked President Buhari to immediately put the country’s resources at the service of human rights & support the less well-off by cutting allocations for security votes, renovation of @nassnigeria, jumbo salaries, etc.”
Of particular mention is the avoidable amounts of money spent on the salaries and emoluments of legislators and governors. According to Oluwadare,
“We stated in the letter sent yesterday: The paltry resources Nigeria invests in essential public services that would benefit ordinary Nigerians can be partly explained by the high spending of public funds to finance a life of luxury for members of @nassnigeria governors, etc”
SERAP recommended care for the less privileged and a commute effort by government to fight corruption.
“This economic crisis provides an opportunity to prioritise access of poor and vulnerable Nigerians to basic socio-economic rights, and to genuinely recommit to the fight against corruption. The country cannot afford getting back to business as usual.
“Implementing human rights, transparency and accountability measures would save money, address projected adverse human rights impacts of the recession, and fast-track the economic recovery process.
“It is not too late to take urgent measures that would put the country’s wealth and resources to work for the common good of all Nigerians.
“Decades of mismanagement and corruption, and deep-seated deficiencies in public financial management have directly contributed to higher levels of borrowing and public debts, and consequently, the economic recession.”
SERAP threatened legal action if the recommended steps are not addressed with 14 days of the publication of its recommendations.
“We would be grateful if your government begins to implement the recommended action within 14 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel your government to do so.”
Read also:
Nigeria’s Economy shrinks a Second Time in Less than Four Years
2nd Recession in 5 Years: SERAP Asks Buhari to Cut Cost of Governance