What Obi Asked About Nigeria’s Finances Is Stirring Fresh Debate

Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

Mr Peter Obi, the presidential candidate of the Nigeria Democratic Congress (NDC) and former Governor of Anambra State, has challenged the Federal Government over its borrowing practices, insisting that the reported rise in national revenue under President Bola Tinubu has not reflected in the welfare of ordinary Nigerians.

Obi made the remarks in a statement published on his official page while reacting to President Tinubu’s recent assessment of his administration’s achievements after three years in office.

According to Obi, one of the accomplishments highlighted by the President was the increase in government revenue from N16.8 trillion in 2022 to N35 trillion in 2025.

The former Anambra governor, however, questioned why the nation’s debt burden continued to rise despite the significant growth in revenue.

“Shockingly, while Nigerians expected a reduction in borrowing with the exponential increase in revenue, the opposite is the case,” Obi stated.

He claimed that Nigeria’s total public debt has now climbed to approximately N200 trillion, representing an increase of more than N100 trillion over the past three years.

Obi further argued that the country generated revenues beyond budget projections during the period, partly due to international and regional economic developments that boosted government earnings.

He also maintained that several important socio-economic indicators had deteriorated despite the reported increase in revenue and borrowing.

“Alarmingly, even with the astronomical increase in both revenue and debt, almost all key socio-economic and governance indicators are worse than in 2023,” he said.

The former governor pointed to rising unemployment, increasing multidimensional poverty and a decline in GDP per capita as evidence of the worsening economic situation.

According to Obi, the number of Nigerians living in multidimensional poverty rose from about 87 million in 2023 to over 140 million in 2025.

“The question Nigerians and even the international community are asking is, ‘Where did all the money go?’” Obi stated.

He called on the government to embrace greater transparency and accountability by providing a detailed breakdown of how increased revenues and borrowed funds have been spent since 2023.

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.