Presidency Says Borrowing Normal, Slams Obi

(AFRICAN EXAMINER) – The presidency has responded to comments by Peter Obi criticising the Federal Government’s borrowing under President Bola Tinubu.

In a statement, presidential spokesperson Bayo Onanuga said borrowing by the government is normal and should not be compared to diseases like cancer or leprosy, as Obi had suggested.

Obi, a chieftain of the African Democratic Congress (ADC), had earlier raised concerns about the country’s rising debt. In a post on X, he said borrowing becomes a serious problem when it is not used to create jobs or grow the economy.

Reacting, Onanuga said every sovereign nation borrows to fund development projects. He added that the Tinubu administration is using loans mainly for infrastructure, not for routine spending.

He also noted that Nigeria’s ability to secure loans shows confidence from lenders in the country’s capacity to repay.

Onanuga urged Obi to avoid what he described as “sensational” remarks and instead address national issues with careful reasoning.

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