Tinubu borrowing policy defended by Lagos APC as strategic and targeted. APC accuses Peter Obi of hypocrisy in criticizing government loans
Tinubu Borrowing Policy has been staunchly defended by the Lagos State chapter of the All Progressives Congress (APC), which described the federal government’s approach to borrowing as “strategic, necessary, and globally acceptable.”
Also read: Tinubu’s Reckless Borrowing Spree Slammed by Obi in Latest Debt Warning
This follows criticism from Peter Obi, the 2023 Labour Party presidential candidate, who described the government’s borrowing as reckless and unsustainable.
In a strongly worded statement titled “Peter Obi’s Borrowing Hypocrisy: Physician, Heal Thyself”, Seye Oladejo, spokesperson of the Lagos APC, accused Obi of lacking the moral authority to critique economic policy, citing his own alleged record of financial mismanagement as former Anambra State governor.
“Borrowing under President Bola Ahmed Tinubu is not reckless,” Oladejo said.
“It is strategic, tied to critical infrastructure, energy, transportation, and productive sectors.
Even the most advanced economies borrow to drive growth.”
The Tinubu borrowing policy has been a subject of national debate, especially as Nigeria’s debt profile continues to rise.
While the federal government maintains that its borrowing is tied to productive investments and reforms, critics argue that the loans have not translated into improved living standards, with inflation and hardship still high.
Oladejo accused Obi of contradictions, saying, “For someone who flew around the world in private jets during his campaign while sermonising about cost-cutting, his message is hollow.”
He also pointed to what he described as Obi’s “extravagant tendencies” and his failure to significantly improve human capital development in Anambra during his tenure, despite leaving cash reserves.
According to Oladejo, Tinubu is demonstrating real leadership through difficult but essential reforms, including fuel subsidy removal, currency realignment, and targeted external borrowing.
“While Tinubu is busy rebuilding Nigeria’s economic foundations, Obi is crafting motivational sound bites.
Nigerians can tell the difference between substance and symbolism,” he said.
Oladejo concluded by advising Obi to “refrain from commenting on serious matters of finance and governance, where he is clearly out of his depth.”
Also read: Tinubu’s Reckless Borrowing Spree Slammed by Obi in Latest Debt Warning
As Nigeria grapples with economic headwinds, the debate over the Tinubu borrowing policy will likely remain a polarizing issue heading into the 2027 political cycle.
