Nigeria is sliding deeper into debt and disunity – Peter Obi

Peter Obi, former presidential candidate has accused President Bola Tinubu’s administration of driving Nigeria deeper into debt, poverty and national disunity.

Obi made the remarks on Tuesday in Abuja during the national convention of the African Democratic Congress, (ADC) where he delivered a sharp critique of government policies and governance outcomes.

He questioned the impact of recent economic reforms, particularly the removal of fuel subsidy, arguing that the expected fiscal benefits have not translated into improved development outcomes.

“When this government came into being, we removed the subsidy on petroleum, and the reason why we removed it is so we can start borrowing to service it and use the resources to develop the country,” he said.

Obi expressed concern over Nigeria’s rising debt profile, claiming the country has moved from about N87 trillion to approximately N200 trillion in liabilities within a short period.

“But today, despite the fact that the government before them was able to pay a subsidy, they left with a debt of N87 trillion. Today, we are about N200 trillion,” he added.

He further alleged that contractors are being owed and questioned the implementation of capital projects, insisting that budgeted infrastructure spending is not yielding visible results.

“This government is owing all contractors; no project in the 2025 budget has been funded. So, we have huge debts, and we have borrowed more. We are heading to a disaster,” Obi said.

On national unity, the former governor of Anambra State warned that Nigeria’s divisions are deepening, stressing the urgent need for inclusive governance and national reconciliation.

“The country is so divided; we need unity. The present government has ensured that it will remain more divided. Our unity is important,” he stated.

Obi also cited worsening insecurity and poverty indicators, urging leaders to rely on data-driven governance and take urgent corrective action to prevent further decline.

“We all have to work hard. We all have to do whatever is possible. Anarchy consumes everybody,” he warned