[Full video] Obaseki bombshell: Nigeria is in big trouble, FG printing Naira
Attached below is the full video of the bombshell by the governor of Edo State, Mr. Godwin Obaseki wherein he said that Nigeria is in big trouble as the Federal Government is printing Naira to sustain the economy.
Obaseki said, amongst other things:
“In another year or so, where will we find this money that we go to Abuja to share every month?
“Last month, we got FAAC for March. The federal government printed an additional ₦50 to ₦60 billion to top-up for us to share.”
“We say remove subsidy, they say no. This April, next week again, we will go to Abuja and share.
“By the end of this year, the total borrowing is going to be in excess of ₦15 to ₦16 trillion.
“My worry is that we will wake up one day like Argentina, the naira will be ₦1,000, ₦2,000 and will be moving because we don’t have money coming in.
“You are just borrowing, borrowing and borrowing without any means or idea of how to pay back.”
In the words of an analyst: “Obaseki has opened the can of worms that Nigeria has covered up since.”