Peter Obi Slams Tinubu Over Debt and Fuel Policies
Peter Obi criticized President Bola Tinubu's economic management, citing excessive debt interest spending and dismissing a temporary petrol discount as a political gimmick.
Presidential candidate Peter Obi launched a series of critiques against the economic administration of President Bola Tinubu, alleging systemic mismanagement of national finances and failed reforms. Citing a World Bank report, Obi claimed the Federal Government spent N7.7 trillion on debt interest between January and June 2026, a figure that exceeded the N6.2 trillion in revenue collected during that period. He asserted that the government spends approximately 11 times more on interest payments than on capital projects, which he claims decreased by N700 billion in the first half of the year.
Obi attributed Nigeria's worsening economic hardship to the removal of fuel subsidies, the floating of the naira, and new tax reforms. He argued these policies have driven unemployment and business closures. In response to a recent 30-day petrol discount offered by the government, Obi dismissed the move as a political gimmick. He noted that the discount is only available at roughly 900 Nigerian National Petroleum Company Limited stations, representing less than four percent of the country's 24,000 filling stations.
Calling the current debt crisis a result of corruption and reckless borrowing, Obi urged the government to prioritize poverty reduction and job creation. He called for the restoration of fuel subsidies under a transparent framework, suggesting the current short-term measures are intended to influence the 2027 general election rather than provide sustainable relief to citizens.
