Obi challenges Tinubu over N15.8tn subsidy savings, $100bn borrowings, demands accountability

Abdullateef Fowewe

Former Anambra State Governor and Nigeria Democratic Congress (NDC) presidential candidate for 2027, Peter Obi, has called on President Bola Tinubu to account for major public resources under his administration, including ₦15.8 trillion in reported fuel subsidy savings and over $100 billion in borrowings.

In a statement on Saturday, titled “NIGERIANS DESERVE ACCOUNTABILITY,” Obi linked his demand to Tinubu’s recent overnight stay in Akwa Ibom State — described as one of the few times the President has spent a night outside Lagos and Abuja.

“I congratulate you on spending a night in one of Nigeria’s states outside Lagos and Abuja. I hope you enjoyed the warmth, hospitality, and delicious cuisine of Akwa Ibom, which I am sure is even better than those of the destinations where you have spent over 260 days outside Nigeria since coming into office,” Obi wrote.

He urged the President to visit the remaining 33 states and engage citizens while explaining the use of public funds, “I sincerely hope this visit will inspire you to travel to the remaining 33 states of the federation, spend time with the people and, more importantly, explain what your administration has done with the ₦15.8 trillion saved from the removal of fuel subsidy, the over $100 billion you have borrowed, the increased revenues accruing to the government from taxing Nigerians, and the additional government revenues which your administration celebrated last year as having surpassed its target.”

Obi pressed for measurable results, asking how many people had been lifted out of poverty, how many out-of-school children returned to classrooms, and how many functional primary healthcare centres had been built.

He also questioned progress on electricity, recalling Tinubu’s earlier pledge that Nigerians should not re-elect him if power was not fixed, and on security, noting that Nigeria still ranks among the world’s most terrorised countries.

“Mr President, Nigerians deserve answers. They deserve to know what has been done with the resources entrusted to your government,” he stated.

Obi concluded that the “New Nigeria” he seeks would rest on “accountability, transparency, and the physical, measurable impact of our public resources on the lives of citizens,” signing off with his familiar slogan: “A new Nigeria is POssible. -PO.”

Recall that Tinubu’s administration removed the fuel subsidy shortly after taking office in May 2023, a move the government said would free up funds for infrastructure and social programmes.

Officials have cited substantial savings and higher non-oil revenues, while the country has also increased external and domestic borrowing.

Critics, including Obi, argue that ordinary Nigerians have seen limited tangible improvements in poverty reduction, education, healthcare, power supply, and security amid persistent economic hardship and insecurity.

Obi, who ran unsuccessfully as the Labour Party candidate in 2023, is positioning himself as the main opposition challenger under the NDC banner ahead of the 2027 elections.

He has repeatedly criticised the scale of presidential foreign travel and the lack of detailed public accounting for borrowed funds and subsidy savings.

The latest statement follows earlier comments in which he claimed Tinubu had spent more than 260 days abroad.