By Oluwasore Alabi
The All Progressive Congress (APC) in Lagos State has strongly defended the borrowing approach of President Bola Ahmed Tinubu’s administration. This came after former Anambra State governor and Labour Party’s 2023 presidential candidate, Peter Obi, criticised what he described as reckless borrowing by the Federal Government. According to APC, the loans are not wasteful but are meant for key infrastructure and economic reforms.
The APC Spokesman, Seye Oladejo, in a statement titled “Peter Obi’s Borrowing Hypocrisy: Physician, Heal Thyself”, responded to Obi’s claims, accusing him of lacking the moral ground to speak on economic prudence. Oladejo stated that borrowing under Tinubu is planned and directed at vital areas such as transportation, power, and other productive sectors of the economy.
Oladejo also took a swipe at Obi’s record as governor, alleging that he left behind unpaid pensions and poor infrastructure in Anambra. He described Obi’s style as “motivational-speech politics” that lacks real solutions. According to him, Tinubu is implementing bold reforms, including subsidy removal and currency adjustments that may be tough but are necessary to fix the economy in the long run.
On the other hand, Obi had asked professional accountants to challenge what he called Tinubu’s dangerous borrowing habits. He expressed concerns over Nigeria’s rising debt and the lack of visible improvement in people’s lives. Obi insisted that the government must show better planning and responsibility in managing public funds.
This back-and-forth reveals the deep divide between the current administration and opposition voices on how best to handle Nigeria’s struggling economy. While the APC insists Tinubu is laying a solid foundation for the future, critics like Obi warn that without careful management, the country may be digging a deeper financial hole. The real question remains: will these debts translate into real progress for ordinary Nigerians?
