LAGOS — The All Progressives Congress (APC) in Lagos State has defended President Bola Tinubu’s borrowing policy, insisting that loans under his administration are targeted at building critical infrastructure and revamping productive sectors of the economy.
In a statement on Thursday titled “Peter Obi’s Borrowing Hypocrisy: Physician, Heal Thyself”, APC spokesman, Seye Oladejo, berated the 2023 Labour Party presidential candidate for describing Tinubu’s borrowing as “reckless.”
Oladejo argued that borrowing was not inherently bad, stressing that what mattered was prudence and purpose.
“Under President Bola Ahmed Tinubu, borrowing is strategic, tied to critical infrastructure, energy, transportation, and productive sectors. This is the globally accepted practice — even the most advanced economies borrow to fund growth,” he said.
He further dismissed Obi’s criticisms, questioning his moral authority to speak on prudent financial management.
“Nigerians remember that as governor, he left behind unpaid pensions, collapsing infrastructure, and poor human capital indices,” Oladejo said.
The APC spokesman also accused Obi of double standards, citing his alleged extravagant lifestyle during the 2023 presidential campaign.
“For someone who flew around the world in private jets while sermonising about cutting costs, the contradictions are glaring,” he added.
Oladejo maintained that Tinubu’s economic reforms — including fuel subsidy removal, currency unification, and targeted borrowing — were tough but necessary decisions aimed at resetting Nigeria’s economy.
“Unlike Obi’s motivational-speech politics, Tinubu is taking bold, practical steps to secure Nigeria’s future. This is leadership in action, not empty moralising,” he declared.
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