The Lagos State chapter of the All Progressives Congress (APC) has criticised Labour Party presidential candidate Peter Obi over his remarks on the Federal Government’s borrowing.
In a statement issued on Thursday and titled “Peter Obi’s Borrowing Hypocrisy: Physician, Heal Thyself”, APC spokesman Seye Oladejo accused Obi of lacking the moral standing to challenge President Bola Tinubu’s policies on loans.
Obi, a former governor of Anambra State, had recently urged accountants to confront the Tinubu administration over what he described as “reckless borrowings.”
Responding, Oladejo argued that borrowing under the current government was strategic and directed at critical sectors.
“First, borrowing is not inherently reckless. What matters is purpose and prudence,” he said.
“Under President Bola Ahmed Tinubu, borrowing is tied to infrastructure, energy, transportation, and other productive sectors. This is globally accepted practice – even advanced economies borrow to fund growth.”
He further contended that Obi had no authority to speak on prudence, recalling that his tenure in Anambra was marked by unpaid pensions, dilapidated infrastructure, and weak human capital development.
Oladejo also described Obi as inconsistent, citing his use of private jets during the 2023 campaign despite preaching cost-cutting.
“For someone who flew around the world in private jets while sermonising about cutting costs, the contradictions are glaring,” he stated.
According to the APC spokesman, unlike Obi’s “motivational-speech politics,” President Tinubu is implementing tough but necessary reforms.
“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 added.