[News] Failure to restructure Nigeria might lead to the collapse of the economy – Peter Obi

Former Governor of Anambra State, Mr. Peter Obi, has called for the restructuring of the country, adding that failure to do it now might lead to the collapse of the economy.

Obi said this while delivering the 4th Adada Lecture titled “Restructuring, security challenges and development,” organized by Association of Nsukka Professors (ANP), held at the University of Nigeria, Nsukka (UNN) on Tuesday, May 25.

“It is unfortunate that some people believe in going to Abuja monthly to get federal allocation from proceeds of oil, but such people have forgotten that the price of oil in the international market has depreciated and will continue to depreciate.

Even developed countries do not depend on oil alone, rather they are focused on production, human investment and encouragement of small and medium scale business.

Recent happenings in the country has shown that there is urgent need to restructure the country, failure to do it soonest may lead to total collapse of the economy,” he said.

According to him, a restructured Nigeria will bring out the cooperative advantage of every zone and state, and many dormant natural resources would be fully harnessed and explored.