Obasanjo Critiques Tinubu's Borrowing Policy at Forum

Former President Olusegun Obasanjo criticized President Bola Tinubu's views on government borrowing, asserting that excessive debt poses a severe threat to future generations. Speaking at the Ajibosin Platform in Abeokuta, Ogun State, on Friday, Obasanjo dismissed Tinubu's claim that borrowing is not harmful if the government can repay it.

He argued that debt is worse than leprosy, as it destroys generations rather than just individuals. This criticism follows Tinubu's request for the National Assembly's approval for new external loans totaling $20.52 billion and €1.045 billion under the Federal Government’s 2026–2027 Supplementary External Borrowing Plan, aimed at financing critical sectors such as infrastructure and healthcare.

Tinubu had previously defended his administration's borrowing policy, stating that borrowing should not be viewed negatively. Obasanjo also expressed concern over the naira's depreciation and questioned the capacity of Nigeria's political leaders to address the nation's economic challenges.