Former Anambra State governor, Peter Obi, has expressed concern over Nigeria’s rising debt profile, saying the country continues to borrow heavily despite promises that subsidy removal would reduce borrowing.
Speaking during an interview on News Central TV, on Thursday May 14 2026, Obi explained that Nigeria’s total debt has grown significantly over the years.
He said it stood at about ₦13 trillion in 2015 when the APC came into power, rose to around ₦87 trillion at the end of former President Muhammadu Buhari’s administration, and is now close to ₦200 trillion.
Obi argued that the expectation was that removing fuel subsidy would help reduce government borrowing, but said the country is still accumulating more debt.
“In 2015, when the APC came into government, our total debt was ₦13 trillion. When Buhari left, it was ₦87 trillion. Today, it is about ₦200 trillion, and we are still borrowing. We were told that we would remove subsidy so we could stop borrowing,” he said further.
SOURCE: Yomitee