June 18, 2026
By Henry Umoru
Presidential candidate of the Nigeria Democratic Congress, NDC, ahead of the 2027 polls, Peter Obi has asked the Federal Government to, as a matter of urgency, tell the country how the nation’s mounting debt is being utilised, pointing to South Africa’s transparent handling of a recent $1 billion development loan as a model worthy of emulation.
The former Anambra State governor said that the South African government openly came up with projects the loan would finance, including upgrades to water supply networks, sanitation infrastructure, electricity distribution systems and waste management services across major urban centres, just as he said that such would enable the people monitor the implementation as well as hold the government accountable for results.
In a statement issued on Thursday, Obi explained that the approval of a $1 billion facility for South Africa by the New Development Bank demonstrated how governments can borrow responsibly while keeping citizens fully informed about the purpose and expected outcomes of such loans.
