Peter Obi Critiques Tinubu on N7.7 Trillion Debt Payments

Former Anambra State Governor Peter Obi criticized President Bola Tinubu’s administration for incurring N7.7 trillion in debt interest payments during the first half of 2026. Obi's remarks followed a World Bank report titled "Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities." He argued that despite improvements in economic indicators, such as a projected economic growth of 4.3% for 2026, these have not translated into better living conditions for Nigerians.

Obi pointed out that the Federal Government's debt interest payments exceeded total revenue of N6.2 trillion by approximately N1.5 trillion, representing 124.2% of revenue for the period. He also noted a decline in capital expenditure by about N700 billion and attributed the situation to excessive borrowing, corruption, and incompetence under the Tinubu administration.

Obi emphasized that economic stability should be measured by the ability of households to afford basic needs rather than macroeconomic indicators alone.