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Peter Obi Calls for Government Use of Borrowed Funds for Job Creation and Living Standards
Peter Obi, the 2023 Labour Party (LP) Presidential Candidate, has called on the Nigerian Government to utilize borrowed funds to create jobs and enhance the standard of living. Obi expressed concern over the government’s borrowing, which amounted to an alarming N121.86 billion in the first quarter. He emphasized that borrowing several trillion naira within just three months underscores the urgent need for careful and responsible financial management.
Posting on X, Obi wrote: “I have consistently maintained that borrowing is not inherently problematic, as long as it is utilized for productive purposes that drive economic growth and development.
“The recent report at the end of the first quarter indicates a significant increase in our government’s borrowing, reaching a staggering N121.86 trillion.
“This rapid accumulation of debt is alarming, and if this borrowing trend continues at the current rate, we can expect the total to surpass N150 trillion by the end of the year.
“If the borrowed funds are used for consumption or misallocated, we risk worsening our economic situation, perpetuating a cycle of debt and hindering our ability to achieve sustainable economic growth and development.
“On the other hand, if the funds are channeled into productive endeavors such as infrastructure development, education, healthcare, and entrepreneurship, we can expect positive outcomes that benefit our economy and citizens in the long run. As I recall, the law governing borrowing is explicit, requiring detailed explanations of the intended use, timing, and other relevant parameters.
“It is essential to ensure that borrowed funds are allocated efficiently and effectively to drive economic growth, create jobs, and improve the standard of living of the majority of our citizens. I respectfully request accountability for the massive borrowings, which have burdened our nation’s future. For the sake of our children and unborn generations, transparency and good governance, a detailed breakdown of how these funds have been utilized and demonstrate their tangible impact on our country’s growth and development should be provided. In conclusion, I urge policymakers and stakeholders to exercise caution and prudence in managing our national debt, ensuring that borrowing is utilized for productive purposes that benefit our economy and citizens.
“By doing so, we can promote sustainable economic growth, development, and prosperity for all Nigerians for generations to come. Our future stability and prosperity depend on prudent management of resources. -P0”
Nigerian Politician and Human Rights Activist, Omoyele Sowore shows up to defend and support the NYSC corp member that has been threatened.
It can be recalled that a viral video has made its way to the country. A young lady who is serving the country laments about the government and President.
The viral video also gained the attention of NYSC, resulting to messaging the corp member. The message ordered the removal of the video and for the lady to report the office on 17th of March, 2025.
However fellow Nigerians and activists have spoken out and called to defend the Corp member against any official threat.
It was reported that Sowore arrived to the local government of the corp member to showcase support in handling the case.
Omoyele Sowore and some activists, including lawyers, accompanied Ushie Uguamaye, a Lagos-based National Youth Service Corps (NYSC) member known as Raye, to meet with her Local Government Inspector (LGI) after she was summoned over a viral video.
Raye recently gained attention after she criticized President Bola Tinubu’s administration in a TikTok video posted under her handle #talktoraye. In the video, she expressed frustration over Nigeria’s worsening economic situation and blamed Tinubu for the country’s struggles, even calling him a “terrible leader.”
Shortly after her comments went viral, Raye claimed that NYSC officials had started threatening her. As a result, she was called to appear at the LGI’s office on Monday for questioning.
On Monday, Sowore, alongside several lawyers, including Festus Ogun, Yinka Oyesomi, and Justice Ojienoh, accompanied Raye to the office to support her. However, according to Sowore, the NYSC officials were nowhere to be found. He shared on his X handle that the LGI failed to show up despite Raye being scheduled to appear.
In a recent development, former Anambra State Governor and 2023 Labour Party presidential candidate, Peter Obi, has voiced strong support for National Youth Service Corps (NYSC) member Ushie Rita Uguamaye, also known as Raye.
Raye recently gained attention after posting a TikTok video expressing her frustrations over the rising cost of living in Nigeria. In the video, she tearfully stated the increasing prices of goods and services, questioning the current administration’s efforts to address these economic challenges.
Following the video’s circulation, Raye alleged that she received threats from NYSC officials, pressuring her to remove the content and cautioning her against making political statements online.
Peter Obi took to his official X (formerly Twitter) account to condemn these alleged threats, stating that such actions are antithetical to the principles of democracy. He emphasized that silencing citizens reflects a corrupt and undemocratic government.
Obi also shared his personal experiences of facing intimidation and harassment for offering constructive criticism of government policies.
Obi called on the current administration to reflect deeply on its approach to dissent, underscoring that constructive criticism is a cornerstone of democratic progress.
He urged Nigerians to stand firm and continue advocating for a nation where freedom of speech is upheld, and leadership remains accountable, especially in critical areas like education, healthcare, and poverty alleviation.
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