The Nigerian presidency has responded sharply to remarks made by Peter Obi, a prominent figure in the African Democratic Congress (ADC), regarding the current administration’s foreign loan policies. Obi had earlier criticized President Bola Tinubu’s government for its borrowing practices, likening them to diseases such as leprosy and cancer.
In a statement, Bayo Onanuga, spokesperson for President Tinubu, dismissed Obi’s analogy, asserting that borrowing is a standard practice for sovereign nations and not a plague. Onanuga emphasized that the government’s loans are channeled toward critical infrastructure projects rather than recurrent expenditure.
Obi had taken to social media to voice his concerns, stating that borrowing becomes problematic when it funds personal interests instead of job creation and economic growth. He argued that this is precisely what is occurring in Nigeria under the current leadership.
Onanuga countered by questioning Obi’s understanding of national finance, noting that every country borrows to meet developmental needs. He pointed out that the availability of lenders willing to provide funds reflects Nigeria’s creditworthiness and ability to repay its debts.
Furthermore, Onanuga urged the former Anambra State governor to adopt a more analytical and less emotional approach to political discourse. He suggested that sensationalism and street protests are not effective substitutes for reasoned debate on the nation’s challenges.
The exchange highlights ongoing tensions between the ruling party and opposition figures over economic management and fiscal policy in Nigeria.