Obi Calls for Smarter Borrowing to Drive Nigeria’s Economic Productivity!
Reported by Mustapha Labake Omowumi (Journalist) | Sele Media Africa
Former Governor of Anambra State and presidential aspirant, Peter Obi, has urged Nigeria to adopt a more strategic approach to public borrowing, emphasising that the country’s debt challenge is less about the act of borrowing itself and more about how borrowed funds are deployed.
Speaking at a recent economic forum in Lagos, Obi highlighted the need for investments that directly enhance productivity and create long-term value for citizens. “Borrowing in itself is not a crime; the real concern is the efficiency and purpose behind the borrowed funds. If we channel resources into productive ventures, we can accelerate growth without worsening the debt burden,” he stated.
Obi’s remarks come amid rising concerns over Nigeria’s debt profile, which has been steadily climbing due to a combination of domestic and external loans aimed at funding infrastructure, social programs, and economic recovery initiatives. Analysts have long warned that unsustainable borrowing could stifle future fiscal space and limit the government’s ability to respond to economic shocks.
The former governor further stressed the importance of transparency, fiscal discipline, and targeted allocation of borrowed resources. He urged policymakers to focus on projects that generate tangible returns, particularly in sectors like agriculture, technology, and manufacturing, which he described as pivotal to Nigeria’s long-term competitiveness.
Experts agree that while borrowing can support development, uncoordinated and inefficient debt accumulation risks long-term economic strain. Obi’s call for smarter borrowing aligns with global best practices, advocating for debt-financed investments that stimulate productivity rather than consumption-driven expenditure.
This perspective reinforces ongoing debates among Nigerian policymakers, economists, and civil society on how to balance fiscal responsibility with the urgent need for infrastructure and social development in a growing economy.
Sources: Reuters, BBC News, The Guardian Nigeria, Premium Times, Channels Television
Mustapha Labake Omowumi is a journalist from Ibadan, Oyo State, and a graduate of the Nigeria Certificate in Education (NCE) in Economics and Mathematics. He demonstrates a strong commitment to professional journalism, with a keen interest in writing and storytelling, guided by principles of self-discipline, accuracy, and trustworthiness.
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