Provide Us With A Breakdown Of How Borrowed Money Was Used – Obi Challenges FG

The presidential candidate of the Labour Party for 2023, Peter Obi, has made criticisms of the federal government.
He insisted on receiving a detailed report from the administration detailing the expenditure of borrowed funds.
Obi made the request in a post on X on Monday, the same day he criticized the government’s rapid increase in borrowing at the end of the first quarter (Q1), claiming it totaled an astounding N121.86 trillion.
He warned that if the current trend continues, the total amount borrowed will exceed N150 trillion by the end of the year.
“I have consistently maintained that borrowing, when used for constructive purposes that promote economic growth and development, is not intrinsically problematic,” Obi said.
Peter Obi, the Labour Party’s presidential contender for 2023, has taken aim at the federal administration.
He demanded that the administration provide a thorough analysis of how borrowed money was used.
In a post on X on Monday, Obi made the demand while criticizing the sharp rise in government borrowing at the conclusion of the first quarter (Q1), which he said came to a startling N121.86 trillion.
He issued a warning, saying that by the end of the year, the total amount borrowed would surpass N150 trillion if the current trend continues.
“I have consistently maintained that borrowing, when used for constructive purposes that promote economic growth and development, is not intrinsically problematic,” stated Obi.

Peter Obi, the Labour Party’s presidential contender for 2023, has taken aim at the federal administration.
He demanded that the administration provide a thorough analysis of how borrowed money was used.
In a post on X on Monday, Obi made the demand while criticizing the sharp rise in government borrowing at the conclusion of the first quarter (Q1), which he said came to a startling N121.86 trillion.
He issued a warning, saying that by the end of the year, the total amount borrowed would surpass N150 trillion if the current trend continues.
“I have consistently maintained that borrowing, when used for constructive purposes that promote economic growth and development, is not intrinsically problematic,” stated Obi.
“A detailed breakdown of how these funds have been utilized and demonstrate their tangible impact on our country’s growth and development should be provided for the sake of transparency, good governance, our children and future generations.”
In order to manage the nation’s debt responsibly and make sure that borrowed money is put to good use, the former governor of Anambra State advised stakeholders and policymakers to proceed with care.
We can encourage sustained economic growth, development, and prosperity for all Nigerians for future generations by doing this, the speaker stated.

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Fasholu Gabriel Oluwatobi

Gabriel O. Fasholu is the founder and editor of SPYCONNET. A brilliant Educationist, Social Media Enthusiast & Freelancer who is passionate about passing undefiled information to the entire public.

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