Obi asks Tinubu to explain nearly $100bn borrowing ahead of 2027

Peter Obi, the presidential candidate of the National Democratic Congress (NDC), has challenged President Bola Tinubu to explain how nearly $100 billion borrowed by the Federal Government has been spent.

Obi made the demand at a town hall meeting in Enugu, according to The Sun, and repeated it in Yenagoa, Bayelsa State, on Friday during the homecoming of the party's National Leader, Senator Seriake Dickson, and the commissioning of the party secretariat, Daily Trust reported.

He said Nigerians deserve to know what the money borrowed over the past three years was used for before they decide who to vote for in 2027.

"We want the president to come and explain to Nigerians what he used the money he borrowed to do in the past three years," Obi said in Yenagoa, according to Daily Trust.

In Enugu, he asked Tinubu to travel round the country and speak directly to citizens about his record. "Please spend at least 36 days and go round Nigeria and tell them what you have been doing for the past three years," he said, according to The Sun.

The two reports describe the party slightly differently: Daily Trust calls it the Nigeria Democratic Congress, while The Sun calls it the National Democratic Congress.

What Obi says about the economy

Obi said Nigeria produces the highest number of poor people in the world and that many families no longer know where their next meal will come from. He said hospitals and schools are lacking, and that young people cannot find jobs.

"We want to move Nigeria from consumption to production," he said in Yenagoa.

He also promised to fight insecurity, unemployment and corruption if elected, and to generate, transmit and distribute at least 10,000 megawatts of electricity.

On public money, he said: "People must stop stealing public money. Public money must be used for public good."

Why it matters

Nigeria's debt and the cost of living are among the issues voters are most likely to weigh ahead of the 2027 election. Obi's demand puts pressure on the government to give a public account of borrowing at a time when many households are struggling with food prices and fuel costs.

The Presidency has not responded to Obi's claim in the reports reviewed. The figure of nearly $100 billion is Obi's own account; the sources do not give an official breakdown of the country's borrowing.

What happens next: Obi said he will keep asking candidates to visit communities and explain their plans. The 2027 campaigns are expected to centre on the economy, security and how government money is spent.