Trending 
The 2027 presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has criticised President Bola Tinubu over what he described as excessive borrowing without accountability.
Obi, in a post shared on X on Tuesday, said the Tinubu administration has engaged in “remarkably imprudent borrowing,” which has pushed Nigeria’s total debt to about N200 trillion, representing an increase of over N100 trillion within three years in office.
He contrasted the figure with the debt profile under former President Muhammadu Buhari, which he said rose by about N49 trillion over eight years and would have projected to around N80 trillion under a similar trajectory.
Excessive Borrowing Without Accountability: Further Affirmation of Imprudent Governance.
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…
— Peter Obi (@PeterObi) June 9, 2026
He also accused the government of a “reckless approach to borrowing” and a “profound absence of accountability and transparency” in the use of borrowed funds.
“For instance, data from the Federation’s Budget Office reveals that the Bola Tinubu government borrowed N11.89 trillion in the first three quarters of 2025 (January to September), exceeding the planned borrowing target of N10.34 trillion by approximately N1.54 trillion,” Obi said.
Credit: Reuters
“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 argued that rising debt without corresponding productivity or investment in critical sectors could worsen Nigeria’s economic vulnerability and burden future generations.
The NDC Presidential Candidate also demanded clarification on how borrowed funds were utilised.
“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, entertainment of guests at 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.
He has consistently raised concerns over Nigeria’s debt profile, calling for more sustainable fiscal policies aimed at reducing waste and improving revenue generation.
