FORMER GOVERNOR, OBI CRITICIZESPRESIDENT TINUBU’S BORROWING AS LONG-TERM BURDEN ON NIGERIA. 

Former 2023 presidential aspirant, PETER OBI, has again criticised President BOLA TINUBU over his borrowing practices, arguing that the loans are not being channelled towards productive or developmental purposes.

In a post on his X platform, OBI noted that during a recent foreign trip, President TINUBU disclosed that Nigeria would spend nearly 11.6 billion dollars on debt servicing, a figure he said should concern anyone committed to the country’s economic future and long-term growth.

OBI stressed that borrowing is not necessarily harmful if it is properly managed and directed towards productive investments. 

He argued that under the current administration, borrowing has shifted from a temporary fiscal measure to a long-term structural burden that is slowing development and deepening economic vulnerability.

He cited countries such as Japan and Indonesia, noting that although they are heavily indebted, they channel borrowed funds into education, healthcare, infrastructure and innovation, sectors that generate long-term economic benefits and strengthen their repayment capacity.