Obi Slams FG’s Lavish Borrowing and Profligate Spending

 

Obi Slams FG’s Lavish Borrowing and Profligate Spending

Lagos, Nigeria — Former Vice President Peter Obi has criticized the Federal Government’s borrowing and spending policies, describing them as excessive and unsustainable. Obi expressed concern over the nation’s rising debt profile and warned that continued fiscal mismanagement could hinder economic growth.

“Nigeria’s borrowing must be strategic, not wasteful. Public funds should prioritize infrastructure, healthcare, and education, not lavish expenditures,” Obi said during a press briefing.

Economists have noted that while borrowing can stimulate economic activity, mismanagement of funds often leads to inflationary pressures and reduced investor confidence. Obi called for greater transparency and accountability in public financial management to ensure that government spending benefits citizens effectively.