N192Million for one borehole: No single borehole should cost more than N10 million — Peter Obi

Peter Obi, the Labour Party’s presidential candidate for 2023, has expressed worry about the N192 million allowed cost of drilling a single borehole by the Nigerian Senate.

Obi voiced concern about the exorbitant funds allocated for borehole projects, declaring that no borehole should cost more than N10 million.

During an online X Space event titled “Citizens Engagement with Peter Obi on #PeterobiOnParallelFacts,” he stated this.

“I don’t think digging any single borehole will cost more than N10 million,” Obi said, emphasizing how shocked he was.

He said, “Anybody building a single borehole for N190 million has to be building a special borehole.”

Obi’s words coincide with information indicating that the Nigerian government has devoted much of its budget to borehole projects. Notably, the Nigerian Senate recently approved a budget of N82.5 billion, or approximately N193 million per borehole, for constructing 427 boreholes.

The disparity between the government’s budgeted allotments and Obi’s estimate of borehole drilling costs has raised controversy about accountability and transparency in Bola Tinubu’s administration.

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.