Presidential candidate of the Labour Party (LP) in the 2023 general elections, Peter Obi on Sunday said the federal government, led by President Bola Tinubu is borrowing money for consumption and not for investment.
Obi who stated this while fielding questions on Parralel Facts X (Twitter) space said there is an urgent need to cut down on the cost of governance.
He said “The way we are going today doesn’t reflect the bankrupt nature of the country; whether it is going to Dubai or building lodges here and there. We are borrowing for consumption, not investment”.
” So the first thing to do was to apply brakes on consumption; cut aggressively, the cost of governance”.
Obi also admonished young voters who were upset by the outcome of the presidential election not to give up.
“For the young voters, don’t get disillusioned. That is the plan of your oppressors. With time, we will dismantle this criminality. The money that is being borrowed today by the leaders in their 70s and 80s, will be repaid by you, young Nigerian, with some of them being bonds that are payable in 2040s. Many of these borrowers will not be alive then. For the sake of your children, your country and humanity, don’t give up”.
 in the 2023 general elections, Peter Obi on Sunday said the federal government, led by President Bola Tinubu is borrowing money for consumption and not for investment){kind=link}