Obi urges Tinubu administration to minimize borrowing, re-evaluate achievement with previous borrowings

The presidential candidate of the Labour Party (LP) in the 2023 general elections, Peter Obi, on Tuesday expressed renewed concern over borrowings and piling of debts by the government, lamenting the effects Nigeria’s high debt profile on the economy. Obi, accordingly, urged the administration of President Bola Tinubu to de-accelerate the borrowing, and first, re-evaluate what has been achieved with previous borrowings…

He stated that in the New Nigeria of his dream, “scarce resources will not only be duly accounted for but will be productively and prudently managed in moving our nation from consumption to production.”

According to Obi, in a statement: @PeterObi
“I remain concerned about our borrowings, considering their galloping rate over the years, and its concomitant effects on the economy.

“More worrisome is the fact that there has been no corresponding visible usage or investments as required by the law, Education (N2.18trn), Health (1.33trn), and Infrastructure (N1.32trn).

“My appeal to the government of the day is to de-accelerate the borrowing, and let us first re-evaluate what has been achieved with previous borrowings and make better decisions for the good of the nation.

“In the New Nigeria of our dream, our scarce resources will not only be duly accounted for but will be productively and prudently managed in moving our nation from consumption to production.”-PO