Peter Obi faults Tinubu over N7.7 trillion debt interest payments in six months

Former Anambra State Governor Peter Obi has criticized President Bola Tinubu's administration over N7.7 trillion in debt interest payments made in the first half of 2026. Obi argues that economic improvements have not led to better living conditions for Nigerians. He questions the government's presentation of development, emphasizing that poverty reduction, job creation and inequality reduction should be the main measures of progress.

Obi points out that the Federal Government spent N7.7 trillion on debt interest payments, exceeding total revenue of N6.2 trillion by approximately N1.5 trillion, or 124.2% of revenue. He highlights that capital expenditure declined by about N700 billion in the first half of 2026, while interest payments were roughly 11 times higher than spending on capital projects.

Obi attributes this situation to excessive borrowing, corruption and incompetence under the Tinubu administration. He argues that economic growth and revenue growth should not be mistaken for improved living standards, as they do not guarantee access to basic necessities like food, healthcare and education. Obi urges the government to ensure that improvements in economic indicators translate into tangible benefits for the poorest Nigerians.