Nigeria’s opposition figure and Labour Party presidential candidate in the 2023 elections, Peter Obi, has condemned the level of corruption under President Bola Tinubu’s administration, saying Nigeria has become a crime scene.
Mr Obi, while addressing the press in commemoration of June 12 Democracy Day on Thursday, slammed Mr Tinubu’s administration for its massive borrowing.
“Corruption is at its worst in this administration,” Mr Obi noted. “Nigeria has now become a crime scene. The present government has borrowed more money in two years than the governments of Umar Musa Yar’adua, Goodluck Jonathan and Muhammadu Buhari combined.”
Mr Obi bemoaned the lack of development in the country despite the government’s inordinate borrowing.
“Today, Nigeria’s public debt is estimated to be close to N188 trillion. Nigerians were informed that the borrowings were to fund critical areas of development. Still, no significant improvements in education, healthcare and poverty alleviation,” the Labour Party chieftain noted.
A recent analysis by the Debt Management Office revealed that Nigeria’s total public debt rose by N57.3 trillion within the first 18 months of Mr Tinubu’s regime. The increase represents a 65.6 per cent surge in the debt stock, growing from the N87.38 trillion record.
Last month, Mr Tinubu wrote to the National Assembly requesting its approval for fresh loans totalling N40.5 trillion amidst a worsening economic climate in the country.
Speaking further, Mr Obi charged Mr Tinubu to discontinue foreign trips, urging the president to visit all states of the federation to feel the pains of ordinary Nigerians.
“The president should stop touring outside Nigeria and use the remaining two years to tour the Nigerian states.
“Mr President, you have already spent 150 days on foreign trips; if you tour Nigerian states for an average of 2 days each, it would only be about 72 days, which is half of the time you spent outside on foreign trips. You must now go around Nigeria to see for the first time what your citizens are going through. It is time to stop governance by remote control,” the former Anambra governor said.
Presidential spokesperson Bayo Onanuga did not reply to a request seeking comment on Mr Obi’s claims that there are no developments in key sectors despite the government’s several borrowings.
Meanwhile, Mr Tinubu said on Thursday that his administration introduced fundamental reforms to correct structural imbalances hindering the country’s growth.
In his speech marking June 12 Democracy Day, the president claimed, “GDP grew by 3.4 per cent in 2024, with Q4 hitting 4.6 per cent, the highest quarter of growth in over a decade,” boasting “inflation is easing gradually, steadying the price of food staples like rice and beans.”
“Our administration is fully committed to boosting the economy’s productive base. Through investment in critical infrastructure, roads, expansion of port operations, rail, and power, we are creating a new environment in which industry and manufacturing can thrive,” Mr Tinubu added.