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Video: President Tinubu Leads Strategic Federal Executive Council Meeting
Bola Ahmed Tinubu on Thursday presided over a meeting of the Federal Executive Council (FEC) at the State House in Abuja.....KINDLY READ THE FULL STORY HERE▶
The session was attended in person by Kashim Shettima, alongside cabinet ministers and other council members.
Meanwhile, former Labour Party presidential candidate Peter Obi criticised the administration over rising public debt and continued borrowing.
In a statement issued on Thursday, Obi cautioned that governments should not accumulate debt without a clear repayment plan tied to productive investments.
He expressed concern that many of the loans obtained by the current administration do not meet legal standards or align with sound economic principles.
Reacting to recent remarks by President Tinubu that debt should not be seen as a “leprosy,” Obi argued that borrowing, if mismanaged or not properly justified, could become harmful to the economy.
He further warned that Nigeria appears to be borrowing primarily for consumption rather than for productive purposes that can drive growth.
The African Democratic Congress chieftain urged the government to ensure that all borrowing directly benefits Nigerians, rather than focusing on defending its debt strategy.
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