Nigeria’s debt servicing now bigger than health, education combined — Peter Obi knocks Tinubu govt

Former Labour Party statesmanlike candidate, Mr Peter Obi, has criticised the rising indebtedness illustration nether the medication of Bola Tinubu, informing that Nigeria’s indebtedness servicing obligations are crowding retired investments successful captious sectors.

Obi stated this successful a connection titled, ‘Debt Servicing, Borrowing, and Nigeria’s Fiscal Priorities’, shared via his X grip on Monday.

He said the Federal Government’s projected expenditure of astir $11.6 cardinal connected indebtedness servicing should interest Nigerians funny successful the country’s economical aboriginal and development.

According to him, borrowing is not inherently incorrect if it is prudently managed and channelled into productive sectors susceptible of generating semipermanent economical returns.

Obi cited countries including Japan, United Kingdom, United States, United Arab Emirates, Singapore and Indonesia arsenic examples of nations with precocious indebtedness levels that put borrowed funds successful education, healthcare, infrastructure and innovation.

He, however, argued that Nigeria’s concern differs due to the fact that a important information of erstwhile borrowings was allegedly spent connected depletion with small disposable developmental impact.

The erstwhile Anambra State politician furth...