Lagos APC Taunts Obi over Tinubu’s Borrowings

Lagos APC Taunts Obi over Tinubu’s Borrowings

The Lagos State chapter of the All Progressives Congress (APC) has dismissed Labour Party’s 2023 presidential candidate, Peter Obi, over his criticism of President Bola Ahmed Tinubu’s borrowing policy, describing him as a “motivational speaker.”

In a statement on Thursday titled “Peter Obi’s Borrowing Hypocrisy: Physician, Heal Thyself,” the party’s spokesperson, Seye Oladejo, defended the administration’s borrowing strategy, insisting it is targeted at critical infrastructure and economic reforms, and not reckless spending.

Oladejo said, “Topics bordering on finance, economy, development, and social policy remain his enduring handicap.”He maintained that borrowing under Tinubu is purposeful and globally acceptable.

“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,” he explained.

Taking aim at Peter Obi’s record as governor, Oladejo added, “Peter Obi has no moral authority to lecture anyone about prudence. Nigerians remember that as governor, he left behind unpaid pensions, collapsing infrastructure, and poor human capital indices.”

He further accused Obi of hypocrisy during the 2023 campaigns. “For someone who flew around the world in private jets during his campaign while sermonising about cutting costs, the contradictions are glaring.”

Highlighting Tinubu’s economic measures, the APC in Lagos State stressed, “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.”Concluding, Lagos APC’s spokesperson dismissed Obi’s criticisms as empty rhetoric.

“He is out of depth and out of place. 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 statement added.