Tinubu spends 11 times more on debt servicing than projects — Peter Obi

Peter Obi, the presidential candidate of the Nigeria Democratic Congress, has harshly criticized President Bola Tinubu's economic policies, pointing out that the Federal Government spends approximately 11 times more on debt interest than on capital projects. In a statement shared on X, Obi referred to a World Bank report on Nigeria's economic performance, citing figures that revealed the Federal Government allocated N7.7 trillion to debt interest between January and June 2026, while only generating N6.2 trillion in revenue during the same period.

Obi questioned the sustainability of the debt crisis despite the significant revenue increase since 2023, asking how such a situation could be explained. He also noted a reduction of about N700 billion in capital projects during the first half of the year, despite the rise in government revenue and borrowing. Obi blamed the issue on reckless borrowing, corruption, and incompetence, arguing that higher revenue does not necessarily translate to improved living conditions for Nigerians.

He emphasized that economic reforms should be evaluated based on their impact on poverty, employment, and citizens' access to essential services like food, healthcare, and education. Obi called for a review of the Federal Government's policies to prioritize job creation, poverty reduction, and the welfare of vulnerable Nigerians.