₦airaland Forum

Peter Obi Has Just Released Another Lie That President Tinubu Intends To Borrow $21 Billion

At about 7:30 AM on Tuesday, July 29, 2025, Peter Obi released a statement filled with lies, innuendoes, and half-truths. The gist of the statement was that President Bola Tinubu is about to borrow $21 billion and skyrocket Nigeria's debt.

Mr. Obi's post shows that he is economically illiterate and does not have sufficient knowledge of how the economy works. This is no big surprise; we recently saw his very disappointing WASCCE result, along with his Second-Class degree in Philosophy. So, his lack of depth is understandable. He is a trader, not a leader.

The Senate of the National Assembly did not approve "an additional $21 billion, €2.2 billion, ¥15 billion of external borrowing for the 2025–2026 fiscal cycle". That is a lie from a man described as 'Gbajue' by Nigeria's only Nobel laureate, Professor Wole Soyinka.

What the Senate approved is a Medium-Term Expenditure Framework (MTEF).

President Bola Tinubu is not about to borrow $21 billion, €2.2 billion, ¥15 billion. That is a figment of the intellectually undeveloped mind of Peter.

The MTEF contains the borrowing plan for both the Federal and State Governments for the next three years.

In other words, the $21 billion is what the Federal Government and the 36 states can borrow over the next three years—not what they will borrow, but what they can borrow. They are not even likely to take those loans. It is just a framework for what is possible.

For example, while the MTEF provides for extensive borrowings in 2025, only $1.23 billion will actually be borrowed. And that $1.23 billion will be borrowed by both the Federal and state governments from all geopolitical zones.

The MTEF only shows possible borrowing that Nigeria is entitled to based on agreements with our external borrowing partners, which must align with the Fiscal Responsibility Act 2007 and the Debt Management Office. (Establishment) Act 2003.

The Borrowing Rolling Plan ties possible borrowings by the Federal and State Governments to specific projects.

For actual borrowings, Nigerians should look at the budgets of both the Federal and State Governments.

Citizens of Nigeria must note that Peter Obi is a liar. He is desperate to be President of Nigeria, and because he lacks economic depth, he will resort to lies.

One of his recent lies was his claim that President Bola Tinubu had borrowed more money than Presidents Yar'adua, Jonathan, and Buhari combined.

I had to appear on Channels TV to present documentary evidence showing that he lied and that the President has reduced Nigeria's debt from the $113.7 billion he inherited from General Buhari to $97.1 billion today.

Be careful with this man. When he lies, he speaks his native language.

Reno Omokri

SoftSport:
Peter Obi's repeated lies like claiming Tinubu plans to borrow $21 billion,make him look untrustworthy and lacking economic knowledge, and this explains why Nigerians have rejected him.

helinues:
What me I don't understand is, is Peter Obi and his supporters thinking all the lies they have been told that have been bursted won't be used against them in 2027.

Sebi they can use Chicago's past case to taunt president Tinubu, they should wait for it