Obi asks FG to explain where the money went.

Former Labour Party presidential candidate Peter Obi has urged the Federal Government to explain how public revenues and borrowed funds have been used, citing worsening economic conditions across the country.

In a statement posted on his Facebook page on Wednesday, Obi questioned the management of Nigeria’s finances under President Bola Ahmed Tinubu, despite acknowledging a significant rise in government revenue.

He noted that President Tinubu, on the third anniversary of his administration, highlighted an increase in government revenue from N16.8 trillion in 2022 to N35 trillion in 2025.

Obi argued that a more than 100 per cent rise in revenue should have lessened the need for borrowing, yet the nation’s debt profile has continued to expand rapidly.

“Shockingly, while Nigerians expected a reduction in borrowing with the exponential increase in revenue, the opposite is the case,” he said.

The former Anambra State governor pointed out that Nigeria’s total debt had climbed to about N200 trillion, an increase of more than N100 trillion over the last three years.

He added that, in addition to the rise in revenue and debt, the country had also benefited from earnings above budgeted revenue targets due to favourable global and regional economic developments.

However, Obi maintained that key socio‑economic indicators had deteriorated during the same period.

He cited rising multidimensional poverty, increasing unemployment, and a decline in gross domestic product per capita as evidence that the gains from higher revenues and borrowing had not improved living conditions for Nigerians.

“Just more and more hardship for Nigerians,” Obi said.

He said both Nigerians and the international community were asking questions about the utilisation of the country’s financial resources.

“The question Nigerians and even the international community are asking is, ‘Where did all the money go?’” he asked.

Obi called for greater transparency and accountability in the management of public finances, insisting that citizens deserve a comprehensive explanation of economic developments since 2023.

He also urged the government to stop what he described as imprudent, opaque and unaccountable management of the nation’s resources.

The former presidential candidate expressed optimism that Nigeria could still achieve sustainable growth and development through productive economic policies and prudent management of public resources.

The post ‘Where Did All the Money Go?’ Obi demands explanation from FG appeared first on Vanguard News.