As Nigeria’s Revenue Climbs to N35 Trillion, Obi Wants to Know: Where Did the Money Go?
A fresh political storm is brewing after former Anambra State governor and presidential candidate, Peter Obi, publicly challenged the Federal Government over what he describes as a troubling contradiction in Nigeria’s economic management.
Reacting to President Bola Tinubu’s recent assessment of his administration’s achievements after three years in office, Obi questioned why the country’s debt burden has continued to rise despite a significant increase in government revenue.
According to Obi, one of the administration’s key achievements highlighted by President Tinubu was the increase in national revenue from N16.8 trillion in 2022 to N35 trillion in 2025. While acknowledging the revenue growth, Obi argued that Nigerians were expecting a corresponding reduction in borrowing and a visible improvement in living standards.
Instead, he said, the nation’s debt profile has moved in the opposite direction.
“Shockingly, while Nigerians expected a reduction in borrowing with the exponential increase in revenue, the opposite is the case,” Obi stated.
The former governor claimed that Nigeria’s total public debt has now climbed to approximately N200 trillion, representing an increase of more than N100 trillion within just three years.
Beyond the debt figures, Obi raised concerns about the broader economic realities facing ordinary Nigerians. He argued that despite increased government earnings, key socio-economic indicators have deteriorated rather than improved.
According to him, multidimensional poverty has expanded significantly, while unemployment remains a major challenge. He also pointed to a decline in GDP per capita, suggesting that economic growth has not translated into meaningful benefits for the average citizen.
The remarks have reignited discussions about accountability, fiscal discipline, and transparency in public finance management. Critics and supporters alike are now debating whether increased revenues have been effectively utilized and whether borrowing levels remain sustainable.
Perhaps Obi’s most striking question was directed not only at government officials but also at the international community.
“The question Nigerians and even the international community are asking is, ‘Where did all the money go?’”
As economic pressures continue to affect households across the country, Obi is calling for a detailed explanation of how government revenues and borrowed funds have been spent since 2023. Whether the administration responds directly remains to be seen, but the debate is unlikely to fade anytime soon.
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