Former Anambra State Governor and NDC presidential candidate, Peter Obi, has strongly criticised the Bola Tinubu administration for what he described as reckless and imprudent borrowing that has ballooned Nigeria’s total public debt to approximately N200 trillion.
In a statement posted on his verified X (formerly Twitter) account on Tuesday, Obi said the sharp rise in debt under the current government represents a clear “further affirmation of imprudent governance.”
Obi noted that Nigeria’s debt has increased by over N100 trillion in just three years under President Tinubu, compared to the roughly N49 trillion accumulated during the entire eight-year tenure of former President Muhammadu Buhari.
He argued that even if Buhari’s debt had continued at the same pace, it would have reached only around N80 trillion by now.
The Labour Party’s 2023 presidential candidate highlighted figures from the Federation’s Budget Office showing that the Tinubu administration borrowed N11.89 trillion in the first three quarters of 2025 alone — overshooting the planned target of N10.34 trillion by about N1.54 trillion.
He lamented the lack of accountability, saying such an overrun would have triggered rigorous scrutiny under a responsible government.
Obi stressed that while borrowing is not inherently wrong when used prudently for productive investments, the current pattern of excessive borrowing without transparency or clear accountability poses serious risks to Nigeria’s future.
He warned that the rising debt burden is already crowding out critical spending on education, healthcare, and poverty alleviation.
The statement comes as concerns mount over the country’s fiscal direction, with plans for significant debt servicing obligations in 2026 adding to public anxiety.
Obi urged the government to exercise greater fiscal discipline and prioritise productive use of borrowed funds. The Presidency is yet to issue an official response to Obi’s latest criticism.
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