Lagos APC hits back at Peter Obi, says Tinubu’s borrowing strategic, not reckless

The Lagos State chapter of the All Progressives Congress (APC) has dismissed criticism of President Bola Tinubu’s borrowing policy, insisting that loans taken under his administration are strategic and tied to critical national development projects.

In a statement on Thursday titled “Peter Obi’s Borrowing Hypocrisy: Physician, Heal Thyself,” APC spokesman, Mr. Seye Oladejo, took aim at the 2023 Labour Party presidential candidate, Mr. Peter Obi, over his recent comments describing Tinubu’s borrowings as “reckless.”

Oladejo said Obi lacked the moral authority to question the government’s fiscal approach, urging him to focus on his strengths in politics.

“First, borrowing is not inherently reckless. What matters is purpose and prudence.

“Under President Bola Ahmed Tinubu, borrowing is strategic, tied to critical infrastructure, energy, transportation, and productive sectors.

“This is the globally accepted practice—even the most advanced economies borrow to fund growth,” Oladejo stated.

He argued that Obi’s record as governor of Anambra State contradicted his current rhetoric on fiscal prudence.

“Nigerians remember that as governor, he left behind unpaid pensions, collapsing infrastructure, and poor human capital indices,” Oladejo said.

He accused Obi of double standards, describing his criticism as hypocritical.

“For someone who flew around the world in private jets during his campaign while sermonising about cutting costs, the contradictions are glaring,” he added.

Oladejo maintained that Tinubu’s policies — including subsidy removal, currency reforms, and targeted borrowing — were necessary steps to revive the economy.

“Subsidy removal, currency reforms, and targeted borrowing are difficult but inevitable measures to secure Nigeria’s future. This is leadership in action – not empty moralising,” he said.

He urged Obi to stay away from complex discussions on finance and governance, insisting that the president was focused on rebuilding the nation.

“He is out of depth and out of place,” Oladejo said.

“Tinubu is building Nigeria’s future, while Obi is busy building sound bites. One is a reformer, the other a motivational speaker. Nigerians know the difference,” the APC spokesman added.