Obi Critiques FG's Borrowing Amid Rising National Debt

Peter Obi, the presidential candidate of the Nigeria Democratic Congress (NDC), expressed concerns regarding the Federal Government's management of foreign loans, highlighting that Nigeria's total public debt has approached ₦200 trillion. He criticized President Bola Ahmed Tinubu's administration for its borrowing trend, which he claims has resulted in an increase of ₦100 trillion within three years, contrasting sharply with the approximately ₦49 trillion accumulated during former President Muhammadu Buhari's eight-year tenure.

Obi emphasized that the growing debt burden exacerbates the economic hardships faced by Nigerians, who are already struggling with inflation and rising living costs. He questioned the transparency of the government's borrowing activities, insisting that citizens deserve clear explanations regarding how borrowed funds are utilized.

Obi cited figures from the Federal Budget Office, indicating that the Federal Government borrowed ₦11.89 trillion from January to September 2025, exceeding its projected borrowing target of ₦10.34 trillion by ₦1.54 trillion. He also raised concerns about the allocation of these funds, noting that only a small portion has been directed towards infrastructure development.