Nigerians Should Be Worried About Tinubu’s $11.6bn Debt Servicing Plan — Peter Obi

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📰 Nigeria

Nigerians Should Be Worried About Tinubu’s $11.6bn Debt Servicing Plan — Peter Obi 18.05.2026

Channels Television

Peter Obi, a former Anambra State Governor and presidential aspirant, has expressed grave concern over Nigeria's plan to allocate approximately $11.6 billion towards debt servicing in 2026, a figure he states is nearly three times the combined budget for health, education, and poverty alleviation. Obi highlighted that a significant portion of current debt was accumulated under the Tinubu administration, with recent external borrowing alone reaching roughly $7.8 billion. He argued that unlike countries that invest borrowed funds in productive sectors, Nigeria's borrowing has largely financed consumption, yielding limited developmental outcomes. This imbalance, Obi warned, risks crowding out essential human capital investments and deepening economic vulnerability, transforming debt servicing from a fiscal obligation into a structural burden.

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