According to Obi, the amount earmarked for debt repayment far outweighs government allocations to critical sectors such as healthcare, education, and poverty alleviation.
Former Labour Party presidential candidate, Peter Obi, has criticized the administration of President Bola Ahmed Tinubu over Nigeria’s worsening debt crisis and what he described as misplaced fiscal priorities.
The former governor of Anambra State said that President Tinubu is “borrowing Nigeria into economic slavery”, warning that the country risks long-term economic stagnation if the trend continues.
In a statement posted on X on Monday titled “Debt Servicing, Borrowing, and Nigeria’s Fiscal Priorities,” Obi expressed concern over Tinubu’s disclosure during his recent foreign trip that Nigeria would spend about $11.6 billion on debt servicing.
According to Obi, the amount earmarked for debt repayment far outweighs government allocations to critical sectors such as healthcare, education, and poverty alleviation.
