Peter Obi Slams Tinubu Over Rising Debt, Says “N200tn Borrowed Without Accountability”

The 2027 presidential candidate of the Nigeria Democratic Congress, Peter Obi, has criticised President Bola Tinubu’s administration over what he described as excessive borrowing and poor fiscal accountability.

Obi said Nigeria’s total public debt has risen to about N200 trillion, which he attributed to what he called “imprudent governance” under the current administration.

He said the debt level represents an increase of over N100 trillion in three years, contrasting it with the approximately N49 trillion accumulated during the eight-year administration of former President Muhammadu Buhari.

The former Labour Party presidential flagbearer in the 2023 election stated this in a statement posted on his X handle on Tuesday, saying the situation reflected a lack of accountability and transparency in the management of borrowed funds.
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“President Bola Tinubu’s administration has engaged in remarkably imprudent borrowing, escalating Nigeria’s total debt to approximately N200 trillion. This represents an increase of over N100 trillion within a mere three years, a stark contrast to the roughly N49 trillion accumulated during President Muhammadu Buhari’s eight-year tenure, which would have projected to around N80 trillion.

“As millions of Nigerians grapple with the shock of this unsustainable debt accumulation, the situation is exacerbated by the government’s reckless approach to borrowing and a profound absence of accountability and transparency in the utilisation of these funds,” he said.

Citing figures from the Budget Office, Obi said the government borrowed N11.89 trillion in the first three quarters of 2025 (January to September), exceeding its planned borrowing target of N10.34 trillion by about N1.54 trillion.

He said such an overrun should ordinarily attract scrutiny and explanation from relevant authorities.

“Under a responsible and accountable government, such an overshoot would necessitate rigorous scrutiny and explanation from relevant governmental bodies. Regrettably, this is not the reality under the current administration,” he said.

He questioned how the remaining funds were utilised.

“The most disturbing aspect of the financial management fiasco under Bola Tinubu is that there is no explanation or information regarding how the balance was utilised or deployed.

“The question that Nigerians are rightly asking and deserve an answer to is what happened to the balance? Was it deployed for recurrent expenditure/consumption, for the entertainment of guests to Aso Rock or transferred to the Renewed Hope Agenda 2027 Election Campaign Fund?

“Nigerians deserve an answer on how our economy and resources are most unpatriotically managed,” he said.

Tinubu, Peter Obi

Nigeria has faced mounting debt pressures since the Tinubu administration’s major reforms began in mid-2023, including the removal of long-standing fuel subsidies and unification of the foreign exchange market.

These moves aimed to correct fiscal distortions but triggered immediate inflation spikes, naira volatility, and higher living costs, while increasing the local-currency burden of debt servicing.

Tinubu had disclosed in May 2026 that Nigeria plans to spend about $11.6 billion on debt servicing in 2026.

While supporters of the government argue that borrowings support critical infrastructure, critics warn of a debt without growth trap.
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ACAN Hosts Maiden International Diplomatic Dialogue, Bringing Together Global Perspectives On The Fight Against Corruption

The Anti-Corruption Academy of Nigeria (ACAN) hosts its Maiden International Diplomatic Dialogue, bringing together global perspectives on the fight against corruption.

Today’s theme — “Experience Sharing in Anti-Corruption Strategy: The Kenyan Perspective” — features His Excellency, Ambassador Isaac Keen Parashina, MBS, Kenyan High Commissioner to Nigeria, as Guest Speaker.

ACAN

The dialogue is chaired by the Hon. Chairman of the ICPC, Dr. Musa Adamu Aliyu, SAN, and hosted by ACAN Provost, Professor Sheriff Ghali Ibrahim.

Anti-Corruption Academy of Nigeria
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Police: Kidnap Victim Freed, Four Suspects Nabbed In Ondo

The police command in Ondo says it rescued a 26-year-old woman kidnap victim and arrested four suspects linked to the abduction in Owo.

The police command in Ondo says it rescued a 26-year-old woman kidnap victim and arrested four suspects linked to the abduction in Owo.

DSP Abayomi Jimoh, the command’s spokesperson, in a statement on Tuesday, said the kidnapping was reported on Monday.
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Mr Jimoh said the victim, Ogechi John, was forcibly taken away at Gozako Filling Station along Emure-Akure Expressway.

He explained that the suspects reportedly arrived in an ash unregistered Toyota Camry before abducting the victim.

Mr Jimoh said the command’s rescue operation was carried out alongside Amotekun, local hunters and vigilantes. According to him, the strategic entry and exit points within Owo and adjoining communities were secured, while multiple patrol and tactical teams were deployed to comb nearby bushes.

“The prompt and coordinated response yielded immediate results as the suspected getaway vehicle was later discovered abandoned in a bush at Ojana, Owo.

“Acting on intelligence gathered during the operation, police operatives arrested three suspects found in possession of a lady’s motorcycle, believed to be connected to the ongoing investigation.

“The suspects were identified as Friday Shola, 27; Friday Monday, 21; Osho Joseph, 24, and one other.

“During preliminary interrogation, one of the suspects disclosed that the abandoned Toyota Camry had earlier been handed over to a herbalist identified as Lawal Lucky of Idimepe Street, Owo, who is currently at large.

Police

“Sustained operational pressure and intelligence-driven efforts by the police culminated in the successful rescue of the victim, John. She has been rescued safely and is currently receiving the necessary support while investigators continue to process relevant evidence,” he said.

Mr Jimoh explained that efforts were ongoing to apprehend the fleeing suspects and identify any other persons who may have played a role in the crime, and ensure the successful prosecution of all culpable persons.
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