Peter Obi has challenged the Tinubu administration’s economic record, arguing that rising government revenues have failed to improve living standards while public debt continues to soar.
Mr. Peter Obi, presidential candidate of the Nigeria Democratic Congress (NDC) and former governor of Anambra State, has questioned the Federal Government’s borrowing pattern, saying increased revenue under President Bola Tinubu has not translated into better living conditions for Nigerians.
According to Daily Post, Obi made the remarks in a statement posted on his official page while reacting to President Tinubu’s assessment of his administration’s performance after three years in office.
The President had highlighted the rise in government revenue from N16.8 trillion in 2022 to N35 trillion in 2025 as a major achievement. However, Obi argued that the revenue growth has been accompanied by a sharp increase in public debt.
“Shockingly, while Nigerians expected a reduction in borrowing with the exponential increase in revenue, the opposite is the case,” Obi stated.
According to him, Nigeria’s total public debt has climbed to about N200 trillion, representing an increase of more than N100 trillion within three years.
Obi further contended that the country benefited from stronger-than-expected revenues driven by global and regional economic developments, yet key indicators continued to deteriorate.
“Alarmingly, even with the astronomical increase in both revenue and debt, almost all key socio-economic and governance indicators are worse than in 2023,” he said.
He cited worsening multidimensional poverty, rising unemployment and declining GDP per capita, alleging that the number of Nigerians living in multidimensional poverty rose from about 87 million in 2023 to over 140 million in 2025.
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