...Voice of the People

Recession: SERAP Calls For Cut In Cost Of Governance

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The Socio-Economic Rights and Accountability Project (SERAP) has called on President Muhammadu Buhari, to cut the cost of governance and implement bold transparency and accountability measures in response to Nigeria’s second recession in five years.

SERAP made the call in a letter dated November 21, 2020, and signed by its deputy director Kolawole Oluwadare.

The rights group blamed the current recession on corruption in the country.

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The letter read in part, “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.

READ ALSO: Nigeria’s Economy Suffers Worst Recession In 36 Years

“The president should put the country’s resources at the service of human rights, and to support the less well-off to enjoy an adequate standing of living through cutting the cost of governance and implementing bold transparency and accountability measures in your government’s response to Nigeria’s second recession in five years.

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“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. Successive governments have squandered the promise afforded by the country’s natural wealth and resources.”

Ijaw News had earlier reported that Nigeria entered its worst recession in 36 years amid rising debt profile, inflation and unemployment

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