The presidency has fired back at former presidential candidate, Peter Obi, for his comments about President Bola Tinubu’s government on rising public debt and borrowings.
PrimeTimes Nigeria reports that Peter Obi, in a statement on Thursday, noted that countries should not borrow recklessly without a clear path to repayment through productive investment.
He, however, lamented that most of the borrowings by the Tinubu administration do not satisfy the requirements of the law or economic common sense.
The former Governor of Anambra State made the submission in response to the recent declaration by President Tinubu that debt is not leprosy.
However, Obi submitted that borrowing can both be a leprosy and a killer cancer if not done for the right reasons and properly managed.
He expressed concerns that Nigeria is borrowing for consumption and not production.
The African Democratic Congress (ADC) chieftain charged the Tinubu government to ensure borrowings work for the Nigerian people, not just to defend or justify them.
In response, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, countered Peter Obi’s claims on borrowing, stressing that every sovereign nation takes loans.
Responding to the post, Onanuga wrote: “Mr Peter Obi, you’re bringing up the same old arguments again with your sensationalist approach.
“What are you trying to say about borrowing? Every sovereign nation borrows money, and as President Tinubu correctly pointed out, borrowing is not a disease.
“If you really want to know, the government has been taking loans to pay for important infrastructure projects, not to spend on everyday things.
“The fact that we are getting money and have lenders who are willing to lend shows that our country is trustworthy and able to pay back the money.
“As a politician, you need to go beyond basic thinking and deal with today’s problems using calm reasoning, not by reacting with strong emotions on the streets or online.”