The Presidency has taken a swipe at former Anambra State governor and chieftain of the African Democratic Congress (ADC), Peter Obi, following his criticism of the Federal Government’s borrowing under President Bola Ahmed Tinubu.
In a statement issued on behalf of the President, presidential spokesperson Bayo Onanuga dismissed Obi’s concerns, insisting that borrowing is a standard global practice and not inherently harmful.
The exchange was triggered by Obi’s post on X (formerly Twitter), where he likened the Tinubu administration’s borrowing pattern to “leprosy and cancer,” warning that debt becomes problematic when it is not directed toward economic growth and job creation.
“Mr. President, borrowing money is not just a problem, but a serious issue when it’s done for personal use instead of helping create jobs and grow the economy, which is happening in Nigeria right now,” Obi wrote.
Responding, Onanuga accused Obi of recycling “old arguments” and adopting a sensational tone. He emphasized that sovereign nations routinely rely on borrowing to fund development initiatives.
“What are you trying to say about borrowing? Every sovereign nation borrows money, and as President Tinubu correctly pointed out, borrowing is not a disease,” Onanuga said.
He further clarified that the current administration’s loans are targeted at critical infrastructure projects rather than recurrent expenditure. According to him, Nigeria’s ability to secure loans from international lenders reflects confidence in the country’s creditworthiness and repayment capacity.
Onanuga also urged Obi to adopt a more measured approach in addressing national issues, stressing the need for “calm reasoning” over emotionally charged commentary.
The debate highlights ongoing concerns about Nigeria’s rising debt profile and the broader conversation on fiscal responsibility, economic growth, and public accountability.
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