Former Anambra State Governor and presidential candidate of the Nigeria Democratic Congress (NDC), Mr. Peter Obi, has accused President Bola Tinubu’s administration of imprudent borrowing, saying that Nigeria’s total debt has risen to approximately N200 trillion in just three years.
Obi, in a statement posted on his X handle on Tuesday, noted that the figure represents an increase of over N100 trillion under the current administration- a sharp contrast to the roughly N49 trillion accumulated under President Muhammadu Buhari’s eight-year tenure.
Citing data from the Federation’s Budget Office, Obi said the Tinubu government borrowed N11.89 trillion in the first three quarters of 2025, exceeding its planned borrowing target of N10.34 trillion by approximately N1.54 trillion.
He raised further alarm over the deployment of the borrowed funds, noting that only N3.10 trillion -representing 17.66% of the N17.58 trillion earmarked for capital projects was actually allocated to capital expenditure in the same period, leaving a deficit of roughly N14.48 trillion unaccounted for.
“The most disturbing aspect is that there is no explanation or information regarding how the balance was utilised,” Obi said, questioning whether the funds were spent on recurrent expenditure, entertainment at Aso Rock or diverted to a 2027 election campaign fund.
He called on the government to provide Nigerians with a transparent account of how public resources were being managed, describing the current situation as a “profound absence of accountability and transparency.”
