Aniefiok Christopher
The presidential candidate of Nigeria Democratic Congress (NDC), Mr. Peter Obi, has queried President Bola Tinubu over the $100 billion in loans obtained by his administration and N15.8 trillion reportedly saved from the removal of the fuel subsidy.
Already, NDC has accused President Tinubu’s administration of eroding Nigeria’s commonwealth through excessive borrowing, poor fiscal management and inadequate investment in critical public services, declaring that Obi and his running mate, Senator Rabiu Musa Kwankwaso, would reverse the trend if elected in 2027.
Challenging Tinubu to visit the remaining 33 states of the federation, he said Nigerians deserved to know how the resources accruing to the federal government through increased revenue, taxation, borrowing and subsidy removal had been utilised since Tinubu assumed office.
The former Anambra State governor made the demand in a statement issued on Saturday and addressed to the president, entitled ‘Good Day, Mr. President: Nigerians Deserve Accountability.’
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Following Tinubu’s recent visit to Akwa Ibom State, Obi said he hoped it would encourage the president to travel to other parts of the country and engage Nigerians on his administration’s performance.
“I congratulate you on spending a night in one of Nigeria’s states outside Lagos and Abuja. I hope you enjoyed the warmth, hospitality, and delicious cuisine of Akwa Ibom,” he said.
He, however, questioned the president’s foreign travels, alleging that Tinubu had spent over 260 days outside Nigeria since assuming office.
“I sincerely hope this visit will inspire you to travel to the remaining 33 states of the federation, spend time with the people and, more importantly, explain what your administration has done with the N15.8 trillion saved from the removal of the fuel subsidy, the over $100 billion you have borrowed,” Obi stated.
He also asked the president to account for the increased revenues accruing to the government from taxation and other sources, including additional revenues the administration reportedly celebrated last year as exceeding its target.
The NDC presidential candidate said Nigerians deserved measurable evidence of improvements in their living conditions, particularly in poverty reduction, education, healthcare, electricity supply and national security.
He asked the federal government to disclose how many Nigerians it lifted out of poverty under the administration, as well as how many out-of-school children it returned to classrooms.
Obi also demanded information on how many functional primary healthcare centres the government built.
On electricity, he questioned how much the power supply had improved, recalling Tinubu’s promise that Nigerians should not vote for him if he failed to fix the country’s electricity challenges.
“They also deserve to know how much electricity supply has improved, especially given your promise that if you do not fix power, Nigerians should not vote for you,” he said.
On security, Obi called for an explanation of the administration’s efforts to secure the country, noting that Nigeria remained among the most terrorised countries in the world.
He maintained that the government owed citizens an explanation of how it had spent public resources, insisting that Nigerians deserved answers on the administration’s performance.
“Mr. President, Nigerians deserve answers. They deserve to know what has been done with the resources entrusted to your government,” he said.
Obi added that accountability, transparency and measurable improvements in citizens’ welfare should form the foundation of the country’s development.
“The new Nigeria we want to build will be based on accountability, transparency, and the physical, measurable impact of our public resources on the lives of citizens,” he said.
NDC: Obi, Kwankwaso Will End Tinubu’s Borrowing-Driven Governance
Meanwhile, the NDC has declared that the Obi-Kwankwaso ticket was committed to ending what it described as a borrowing-dependent model of governance and replacing it with prudent management of public resources, accountability and productive investments capable of improving citizens’ welfare.
The NDC said this in a statement issued Saturday by its National Presidential Campaign Council spokesperson, Dr. Chiogo Constance Ikokwu, in response to Tinubu’s criticism of Obi over the persistent gully erosion menace in Anambra State.
It argued that the former Anambra State governor’s political ambition went beyond addressing erosion in his home state, insisting that his broader mission was to halt the alleged erosion of Nigeria’s national wealth.
The party questioned the economic benefits of removing the petrol subsidy, demanding explanations for what happened to the anticipated fiscal gains, particularly amid the federal government’s continued borrowing and what it described as inadequate funding of essential public services.
It also expressed concern over the country’s rising debt profile, poor debt-service-to-revenue ratio and the persistent underfunding of healthcare and education.
According to the NDC, Nigerians deserve to know why increased revenue generation and the removal of the fuel subsidy have not translated into improved public services and better living conditions.
“Obi-Kwankwaso will not allow Nigeria to continue borrowing at an alarming rate, without corresponding benefits, while citizens endure worsening poverty, unemployment, insecurity and declining purchasing power,” the party said.
To strengthen its argument on fiscal management, the NDC compared the financial records of Obi and Tinubu during their respective tenures as governors of Anambra and Lagos states.
It claimed that Obi left the equivalent of $500 million in investments and local and foreign currency assets when he handed over power in Anambra State in 2014, including $156 million in dollar-denominated bonds.
In contrast, the party cited Debt Management Office figures which, it said, put Lagos State’s external debt at approximately $190.43 million at the end of 2007, when Tinubu left office.
The NDC also criticised the pension law enacted during Tinubu’s administration in Lagos, which provided lifetime benefits for former governors and their deputies.
It alleged that the law entitled former governors and their deputies to pensions equivalent to 100 per cent of the incumbent governor’s basic salary, houses in Lagos and Abuja, multiple vehicles, furniture and utility allowances, entertainment benefits, free medical care and other privileges.
The party described the provisions as excessive, arguing that they placed unnecessary pressure on public resources.
It further claimed that a subsequent Lagos administration was compelled to review some of the provisions, while Obi did not establish a similar pension arrangement for former governors in Anambra State.
The NDC maintained that the 2027 presidential election would give Nigerians a choice between what it described as Tinubu’s borrowing-dependent economic model and the Obi-Kwankwaso commitment to fiscal discipline and accountability.
Warning against unsustainable borrowing, the party referenced the financial difficulties experienced by countries such as Argentina and Zambia, as well as historical examples involving the Ottoman Empire and 19th-century Egypt.
It argued that excessive debt accumulation, without corresponding productive investments and effective fiscal management, could undermine national development and threaten future generations.
On the erosion controversy that prompted the statement, the NDC defended Obi’s record, saying his administration took steps to address gully erosion and flooding in Anambra State.
It said Obi helped attract and launch the World Bank-supported Nigeria Erosion and Watershed Management Project (NEWMAP) in the state.
The party also cited the former governor’s directive that new state roads should incorporate adequate drainage systems connected to safe discharge points.
It listed concrete drainage and local flood-control projects executed in communities, including Adazi Nnukwu, Amawbia and Umuoji, as evidence of his administration’s efforts to tackle environmental challenges.
The NDC added that Obi regularly engaged the federal government to secure ecological intervention funds for the state, while emphasising accountability in their utilisation.
