Former presidential aspirant of the Peoples Democratic Party (PDP), Dele Momodu, has alleged that the administration of President Bola Tinubu has taken more loans than all previous Nigerian governments combined.
Momodu made the remarks during an appearance on Sunrise Daily, a programme on Channels Television, monitored on Wednesday.
The publisher of Ovation Magazine argued that despite the scale of borrowing and the trillions of naira budgets announced by the government, many Nigerians are yet to see tangible results.
“Tinubu’s government has taken more loans than all the governments of Nigeria combined. We have not seen the effects of that loan,” he said, adding that many citizens are struggling to understand the economic direction of the country.
He also criticised the ruling All Progressives Congress (APC), saying it has continued to blame the previous administration despite being an extension of it.
“APC is supposed to be an offshoot of the Buhari administration, yet every day, it is APC itself that is blaming Buhari and blaming APC,” Momodu stated.
The PDP chieftain further questioned the government’s claims of economic stabilisation, particularly regarding exchange rate management and budget implementation.
“They tell us today they are running budgets in trillions. But they forget to tell us what they have done with the trillions, and have they been able to balance the budget?” he added.
His comments come amid ongoing public debates over Nigeria’s debt profile, fiscal management, and broader economic reforms under the current administration.
