Obi criticises Tinubu over Nigeria’s rising debt and lack of accountability
Peter Obi has accused President Bola Tinubu’s administration of excessive borrowing and poor fiscal management. He claims Nigeria’s public debt has soared to about N200 trillion, with little transparency on how the funds are used. Obi contrasts this with borrowing under former President Muhammadu Buhari and questions the lack of explanation for the spending gap. The government’s recent fiscal reforms have also led to rising inflation and increased debt servicing costs.
What we know
- Peter Obi says Nigeria’s public debt has reached around N200 trillion under Bola Tinubu.
- He claims this is an increase of over N100 trillion in three years, compared to about N49 trillion during Muhammadu Buhari’s eight-year tenure.
- Citing the Budget Office, Obi states the government borrowed N11.89 trillion in the first three quarters of 2025 (January to September), exceeding its target by about N1.54 trillion.
- Only N3.10 trillion of the borrowed funds was allocated to capital expenditure in the January–September 2025 period, leaving a gap of about N14.48 trillion.
- Obi calls for transparency and accountability, questioning how the remaining borrowed funds were utilised.
