Former Governor of Anambra State, Peter Obi, has warned that Nigeria faces imminent collapse if drastic steps are not taken to restructure the country now.
The former Vice Presidential candidate of the Peoples Democratic Party gave the warning 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) recently.
READ ALSO: Why I returned to PDP – Donald Duke
“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 have shown that there is an urgent need to restructure the country, failure to do it soon 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.