The Lagos State chapter of the All Progressives Congress (APC) has defended President Bola Tinubu’s borrowing policy, describing it as a strategic move to finance national development and critical infrastructure.
In a statement issued on Thursday and titled “Peter Obi’s Borrowing Hypocrisy: Physician, Heal Thyself,” the party’s spokesperson, Seye Oladejo, faulted the Labour Party’s 2023 presidential candidate for attacking the government’s financial approach.
He argued that Obi’s recent comments on borrowing lacked credibility and were misplaced.
Oladejo maintained that loans taken by the Tinubu administration were targeted at productive sectors, infrastructure, energy, and transportation.
“Borrowing is not automatically reckless; what matters is the purpose and how it is managed. Globally, even advanced economies borrow to fund growth,” he said.
He accused Obi of lacking the moral standing to speak on fiscal prudence, recalling issues from his time as Anambra governor, including unpaid pensions and poor infrastructure records.
Oladejo further alleged that Obi’s lifestyle contradicted his public preaching on prudence, citing his use of private jets during campaigns.
He insisted that Tinubu was taking bold and necessary steps to stabilize the economy, including subsidy removal, currency reforms, and carefully directed borrowing.
Oladejo concluded by stressing that Tinubu’s policies were focused on real economic reforms, while Obi remained more concerned with rhetoric.