The Labor Party (LP)’s presidential candidate in the 2023 general election,
Peter Obi, has again decried what he described as President Bola
Tinubu’s administration’s penchant for reckless borrowing without
accountability.
The Nigerian Senate had approved another external borrowing of $21
billion, 2.2 billion euros and ¥15 billion for the 2025–2026 fiscal cycle.
The former Anambra State governor noted that with the latest approval,
Nigeria’s debt now stands at N187 trillion with palpable fear that it might
climb to N200 trillion before the end of the year.
Writing on his X handle on Tuesday, Obi said, Borrowing is not inherently
bad if it is sustainable and tied to productive investments with measurable
outcomes.
Unfortunately he said, this current pattern of borrowing without
accountability, without transparency, and without transformational impact is
simply mortgaging the future of Nigeria children.
Obi hinted that, the government should consider the intergenerational
consequences of their unsustainable borrowings and show at least a
minimum consideration and interest in the future of young and unborn
Nigerians.
