The Nigeria Democratic Congress 2027 presidential candidate, Peter Obi, has questioned the Federal Government's rising debt profile despite what he described as a significant increase in national revenue under President Bola Ahmed Tinubu's administration.
In a post on X, Obi said Tinubu cited an increase in government revenue from N16.8 trillion in 2022 to N35 trillion in 2025 as one of the achievements of his administration's first three years in office.
Obi argued that the more than 100 percent increase in revenue should have reduced the government's reliance on borrowing, but instead Nigeria's debt stock has risen sharply.
According to him, the country's total debt has climbed to about N200 trillion, representing an increase of more than N100 trillion in three years.
The former Anambra governor also contended that Nigeria earned more than its budgeted revenue targets during the period due to global and regional economic developments.
He expressed concern that despite increases in both revenue and borrowing, key economic indicators had deteriorated, citing rising multidimensional poverty, unemployment and a decline in GDP per capita.
Obi claimed multidimensional poverty had increased from 87 million people in 2023 to more than 140 million in 2025, while GDP per capita fell from $1,597 to $1,223 over the same period.
“The question Nigerians and even the international community are asking is, ‘Where did all the money go?’” Obi said.
He called on the Federal Government to provide a detailed and transparent account of how public funds have been managed since 2023 and urged an end to what he described as “imprudent, unaccountable and opaque” management of national resources.
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