The 2023 Labour Party, LP, presidential candidate,

The 2023 Labour Party, LP, presidential candidate, Peter Obi, has said Nigeria needs 60 per cent reduction in the cost of

governance.Obi said the decision of President Bola Tinubu to reduce the cost of Federal Government’s official entourage

during trips was scratching the surface.He wondered why the government had not disclosed how much would be saved as a

result of the reduction.On Tuesday, Tinubu had announced a slash in the travel expenditure of government officials by 60 per

cent.This reduction affected his entourage, Vice President Kashim Shettima, First Lady Remi Tinubu, and ministers.Reacting,

Obi posted on X: “The just announced 60% cut in the size of federal official entourages on travels is one positive step towards

the reduction of cost of governance and a way of halting wastage. But this measure is just scratching the surface as It is

limited in scope and can only lead to a very negligible saving.“We are yet to be told how much savings this will amount to.

While this modest step may be somewhat commendable, what is desirable should be both a 60% reduction in federal official

overseas trips as well as a 60% reduction in the size of delegations.“Most importantly, what our current economic reality

demands is a 60% reduction in the total cost of governance at the Federal level. This implies that the recently passed federal

budget needs to be revised to cut all wasteful and unnecessary items.“This is the level of cost-cutting and savings that can

meaningfully impact the present state of the economy. This level of cut in the cost of government should lead to substantial savings.”