Socio-Economic and Accountability Project, SERAP, has written an open letter to President Muhammadu Buhari asking him to cut the cost of governance and implement bold transparency and accountability measures in response to Nigeria’s second recession in five years.

This was disclosed in a statement signed on Sunday by SERAP deputy director Kolawole Oluwadare.

“Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to President Muhammadu Buhari urging him to 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 recession,” the statement read in part.

The group said the economic crisis rocking the nation 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.

SERAP said: “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.

“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.”

The group said further that the paltry resources Nigeria invests in essential public goods and services that would benefit ordinary Nigerians can be partly explained by the “high spending of public funds to finance a life of luxury for members of the National Assembly, state governors, and other ‘powerful’ politicians.”

SERAP said it is seriously concerned about the adverse consequences of the economic crisis on the human rights of poor and vulnerable Nigerians, including denying them access to essential public goods and services such as healthcare, education, clean water, and regular electricity supply.

They said they would be grateful if the Federal government “begins to implement the recommended action and measures within 14 days of the receipt and/or publication of this letter. If we have not heard from you by then as to the steps being taken in this direction, SERAP shall take all appropriate legal actions to compel your government to implement these recommendations for the sake of human rights, transparency, and accountability.”

According to SERAP, prioritising the human rights of poor and vulnerable Nigerians means providing public goods and services free of charge for those who cannot afford them.

“This is the time to prioritise poor and vulnerable Nigerians, and to ensure that any response to the recession goes well beyond bailing out large companies and banks,” the statement added.

Official figures published by the NBS on Saturday, November 22 show that the economy shrank again in the third quarter of this year.

The nation’s economy maintained a second consecutive negative growth after contracting by 3.62 percent in the third quarter.

The cumulative Gross Domestic Product (GDP) for the first nine months of 2020, therefore, stood at -2.48 percent just as it recorded a -6.10 percent in the second quarter.

The same happened in 2016, making it the second recession in a space of four years.