The Lagos State chapter of the All Progressives Congress (APC) has defended the borrowing strategy of President Bola Ahmed Tinubu’s administration, describing it as a deliberate and strategic move aimed at financing critical infrastructure and supporting national development.
In a statement issued on Thursday, September 10, 2025, and titled “Peter Obi’s Borrowing Hypocrisy: Physician, Heal Thyself,” APC spokesman Seye Oladejo strongly criticized the 2023 Labour Party (LP) presidential candidate, Peter Obi, over his recent comments on federal borrowing. Obi, a former governor of Anambra State, had urged professional accountants to hold the Tinubu-led federal government accountable for what he labeled as “reckless borrowings.”
Oladejo dismissed Obi’s position, stating that the opposition figure lacked the credibility to lecture on matters of economic prudence. “First, borrowing is not inherently reckless. What matters is purpose and prudence. Under President Bola Ahmed Tinubu, borrowing is strategic, tied to critical infrastructure, energy, transportation, and productive sectors. This is the globally accepted practice—even the most advanced economies borrow to fund growth,” Oladejo said.
He further argued that Obi had no moral authority to criticize, noting that during his tenure as governor, several challenges persisted in Anambra State. “Nigerians remember that as governor, he left behind unpaid pensions, collapsing infrastructure, and poor human capital indices,” he added.
The APC spokesman also accused Obi of hypocrisy, citing what he described as Obi’s tendency to present himself as a champion of austerity while engaging in what he considered contradictory behavior. “For someone who flew around the world in private jets during his campaign while sermonising about cutting costs, the contradictions are glaring,” Oladejo said.
Highlighting Tinubu’s current economic reforms, Oladejo maintained that the administration was adopting bold measures that, although difficult, were essential for long-term stability. He pointed to the removal of fuel subsidies, ongoing currency reforms, and borrowing targeted at productive sectors as evidence of purposeful leadership. “Subsidy removal, currency reforms, and targeted borrowing are difficult but inevitable measures to secure Nigeria’s future. This is leadership in action – not empty moralising,” he stated.
Oladejo further emphasized that unlike what he called Obi’s “motivational-speech politics,” Tinubu’s policies reflect the realities of governance and the sacrifices required to put the economy on a sustainable path. According to him, the current administration is not borrowing for consumption but rather to build the foundation for lasting growth, in line with international best practices.
He concluded by urging Obi to refrain from offering commentary on matters of finance and governance, arguing that the former governor was “out of depth and out of place.” Oladejo insisted that the APC government was focused on pragmatic solutions and developmental outcomes, while critics, in his view, were offering rhetoric without practical alternatives.
The exchange reflects a broader debate within Nigeria’s political landscape, as the government’s economic reforms continue to draw both commendation and criticism. While supporters describe the policies as bold and necessary, detractors argue that rising debt, inflation, and social hardships raise questions about the long-term sustainability of such measures.
