Abuja- Labour Partys presidential candidate in the 2023 elections, Peter Obi, has again decried what he described as President Bola Tinubus administrations penchant for reckless borrowing without accountability.
Obi spoke in response to the latest external borrowing plan of 21 billion, N2.2 billion euro and 15 billion approved by the Senate last week. The former Anambra State governor noted that with the latest approval, Nigerias debt now stood at N187 trillion, with palpable fear that it might climb to N200 trillion before the end of the year.
Writing on his X handle yesterday, Obi said: "On July 22, 2025, the Nigerian Senate approved an additional 21 billion, 2.2 billion euro, 15 billion of external borrowing for the 2025-2026 fiscal cycle.
"It also approved a N750.98 billion domestic bond issuance and a 65 65 million euro grant. With an already existing public debt of about N149.39 trillion as at the first quarter of 2025, adding the approved loans of about N37.2 trillion brings our current total debt to about N187 trillion with concerns that our debt might likely be over N200 trillion by the end of 2025.