As a pastor’s wife, I cry when I read some of the texts my husband gets – Oby Ezekwesili

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Dr. Oby Ezekwesili, a former vice president of the World Bank, revealed her sorrow at the political class’s misappropriation of public resources and demonstrated empathy for the challenges experienced by families, according to a piece published in the Sun.

She underlined the negative consequences of excessive debt on the nation, saying that considering the GDP structure, size, and scope of the country, it is insufficient to concentrate only on the debt-to-GDP ratio.

Ezekwesili contended that the ratio of tax revenue, or total revenue, to debt is a more pertinent metric to take into account, emphasising that this ratio has increased from 80% and is still rising.

She underlined the necessity of careful financial management for the nation in light of its debt load and current economic conditions.

According to Oby Ezekwesili, “I am a pastor’s wife, so I get to be in the midst of all segments of society. I know what families are going through. I cry every day because of that, I cry when we read some of the texts that my husband, as pastor of a church, gets and to see the political class of this country being totally reckless with scarce public resources.”

“A country that is highly leveraged, being highly leveraged means that we are overburdened with debt, we are crumbling under the weight of debt. When you talk about debt, and these guys begin to tell you debt to GDP ratio, that’s an incredible nonsense, because that is not the important indicator you use when you don’t have the kind of GDP base and structure of economy and revenue size and scale that those in advanced economies can do. What you are paying attention to is tax revenue, or total revenue to debt, and the total revenue to debt has gone from 80% to any numbers that are higher than that.”

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