The Lagos State chapter of the All Progressives Congress (APC) states that borrowing under the administration of President Bola Tinubu is intended to fund development through the construction of critical infrastructure.
The APC Spokesman, Mr. Seye Oladejo, in a statement titled “Peter Obi’s Borrowing Hypocrisy: Physician, Heal Thyself” on Thursday criticized the 2023 Labour Party’s (LP) Presidential Candidate’s criticism of Tinubu’s borrowings.
Chronicle NG reports that the former Anambra governor has called on accountants to confront the Tinubu-Federal Government over what he calls “reckless borrowings.”
Oladejo encouraged Obi to play to his political skills, “as topics bordering on finance, economy, development, and social policy remain his enduring handicap.”
According to him, borrowing under the current administration is purposeful and linked to projects and funding for productive industries.
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“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.
“Second, Peter Obi has no moral authority to lecture anyone about prudence.
“Nigerians remember that as governor, he left behind unpaid pensions, collapsing infrastructure, and poor human capital indices,” Oladejo said.
The APC chieftain claimed that Obi had continually demonstrated excessive impulses, and therefore preaching about cautious resource management was a contradiction.
“For someone who flew around the world in private jets during his campaign while sermonizing about cutting costs, the contradictions are glaring,” he said.
According to him, unlike Obi’s motivational-speech politics, Tinubu is taking bold, necessary moves to restart the economy.
“Subsidy removal, currency reforms, and targeted borrowing are difficult but inevitable measures to secure Nigeria’s future. This is leadership in action—not empty moralizing,” he added.
He encouraged Obi to avoid speaking on major financial and governance issues, saying he is “out of depth and out of place.”
Oladejo mentioned that Tinubu was building Nigeria’s future, while Obi was busy building sound bites.
“One is a reformer, the other a motivational speaker. Nigerians know the difference,” he said.
