JUST IN: Peter Obi Blames Muhammadu Buhari for Surge in Nigeria’s Debt

Peter Obi, former Labour Party presidential candidate, has raised concerns over Nigeria’s rising debt profile, referencing figures from previous administrations while discussing the country’s fiscal trajectory.

Speaking during an interview on SYMFONI TV, Obi reflected on the state of Nigeria’s public debt before and during the administration of former President Muhammadu Buhari, arguing that the growth in borrowing over the years has significant implications for economic stability and future generations.

He said public discussions on debt should focus not only on the act of borrowing but also on the scale and impact of accumulated liabilities over time. Obi insisted that Nigeria’s debt burden has grown sharply across successive administrations, and urged greater accountability in how borrowed funds are managed.

In the interview, Obi said, “Before president Buhari became president, in 2015, our entire debt was N13trillion. Buhari came and in 8 years to make it 87trillion.”

The statement has generated attention and debate, particularly among economic analysts and political commentators who continue to assess Nigeria’s borrowing patterns and fiscal management strategies over the past decade. Obi’s remarks are part of his broader criticism of government spending and what he describes as unsustainable debt accumulation.

He has consistently argued that while borrowing can be a legitimate tool for national development, it must be tied to productive investments that generate returns and reduce long-term economic pressure. According to him, excessive or poorly managed debt can limit a country’s ability to invest in critical sectors such as education, healthcare, and infrastructure.

The former Anambra State governor has repeatedly called for greater transparency in public finance and stronger fiscal discipline in government operations.