Peter Obi Knocks Tinubu Over Claims of Inheriting Serious Debt From Buhari Administration

Peter Obi, the presidential candidate of the Labour Party (LP) in 2023, has attacked President Bola Ahmed Tinubu for allegedly leaving the country in financial ruin during President Muhammadu Buhari’s previous administration.

According to Gistlover, Tinubu bemoaned Monday night’s serious deficiencies in Nigeria’s port, electricity infrastructure, and agro-allied facilities. He said, however, that his government would see to it that all of the issues were resolved.

President Tinubu declared that he would not offer any explanations, despite the fact that his administration likewise inherited resources from its forebears.

Peter Obi criticized the All Progressives Congress (APC) administration for not disclosing the extent of the inherited deficit in a statement sent through X on Thursday. Doing so would have let the public to understand the direction the nation is taking.

The former Anambra State governor recounted how, in 2015, the Peoples Democratic Party (PDP) was also held accountable by the APC administration for leaving the country in bankruptcy and so raising its debt load.

According to Peter Obi, the current finding necessitates a significant reduction in the expense of governance.

The statement reads, “I just read yesterday, a widely publicized story from the present APC-led Federal Government saying that they inherited a bankrupt nation from their predecessor APC administration. But the story failed to disclose what they inherited, which had qualified us for bankruptcy status.

One major characteristic of responsible governance is transparency and strict accountability. This demands that the government disclose exactly the degree of deficit they inherited. What is inherited should be disclosed to enable the public to know where we are and where we are headed. Recall that the previous APC Government made a similar claim in 2015 against the PDP administration that handed over to them without telling the nation what it actually inherited.

“Rather, they took our debt profile from N12.6 Trillion in 2015 to N87 trillion in 2023 when they left office without improving on any indices of development: Education, Health, Poverty eradication, and Security. Instead, the condition of the nation on every development index got worse, leading to the present sad state. Nigerians know things are bad, and they experience it daily. What they now want to hear regularly are measurable and verifiable steps to improve the situation.

“Also, the alarm raised by the government about the bad state of our finances raises questions about the rationale behind some expenditure items in the supplementary budget recently signed into law. The present revelation also goes to buttress the argument that I have made since electioneering season that the cost of governance is too high and must be drastically reduced.

A bankrupt country should channel every available resource into funding critical development sectors like security, healthcare, education, and eradication of poverty by addressing youth unemployment, not spending in non-essential areas. So, what we expect are measurable and verifiable steps to improve the situation.”