Peter Obi, the 2027 presidential candidate of the Nigeria Democratic Congress (NDC), has criticised President Bola Tinubu’s administration over its debt management, citing figures showing that the Federal Government spent ₦7.7 trillion on debt interest payments against revenue of ₦6.2 trillion in the first half of 2026.

Obi made the criticism in a statement posted on his X account on Monday, October 12, while reacting to a World Bank report titled Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities.

According to Obi, the Federal Government spent ₦7.7 trillion on debt interest payments between January and June 2026, representing approximately 124.2 per cent of its total revenue of ₦6.2 trillion during the same period.

RELATED NEWS: ‘140 Million Nigerians Are Poor Despite Tinubu’s Economic Reforms’ – peter Obi

He said debt interest payments exceeded the government’s revenue by approximately ₦1.5 trillion, questioning how the country could continue to face a debt crisis despite increased revenue.

“How do you explain the unsustainable debt crisis even with exponential increase in revenue that we have had since 2023?” Obi asked.

The former Anambra State governor also expressed concern over a reported reduction of about ₦700 billion in capital expenditure during the first half of the year.

He argued that the government’s spending priorities showed a significant imbalance between debt servicing and investment in capital projects.

“In comparison, the APC led Federal Government spends about 11 times more on interest payment than on capital projects,” he stated.

Obi attributed the situation to what he described as reckless borrowing, corruption and incompetence within the Tinubu administration.

He argued that increased government revenue should not be celebrated without examining how public funds are spent and whether government spending priorities support economic development.

Obi further maintained that the presentation of improved economic indicators should not distract from the country’s debt burden and the impact of government policies on Nigerians.

He said the administration should recognise that economic progress cannot be measured by increased revenue alone, particularly when the government continues to face substantial debt interest obligations.

The NDC presidential candidate also questioned the government’s presentation of economic performance, arguing that economic statistics should reflect the actual impact of reforms rather than serve as a basis for celebrating improvements that have not translated into better living conditions for citizens.
.

The Independent National Electoral Commission (INEC) has debunked a fake announcement circulating online concerning alleged issues affecting the list of governorship candidates in six states ahead of the 2027 elections.

The commission disclosed this in a post on its official X account on Monday, October 12, 2026, warning Nigerians against sharing the fraudulent publication.

INEC said the purported announcement, which claimed that there were issues affecting the governorship candidates’ lists in Zamfara, Gombe, Delta, Plateau, Yobe and Kano states, did not originate from the commission.

SEE MORE: DHQ Warns Of Potential Violence In Planned Nationwide Protest

“The Commission wishes to categorically inform the general public that the publication is FAKE and did not originate from INEC,” the electoral body stated.

The circulating document is titled “Special Announcement” and also carries the headings “Public Information Notice” and “Important Update.”

It claims that there may be an issue affecting the lists of governorship candidates in the six states and states that a further announcement was expected on Monday.

The document reads: “Reports suggest there may be an issue affecting list of governorship candidates in the following six states,” before listing Zamfara, Gombe, Delta, Plateau, Yobe and Kano.

It further states: “A further update is expected regarding the issue and any steps that may be taken to resolve it.”

The purported announcement also advises the public to remain calm while awaiting an official statement from INEC.

“The public is advised to remain calm and await an official statement from INEC,” the document states.

The publication bears the name of Rose Oriaran-Anthony, identified as Secretary of INEC. However, the commission has disowned the document, describing it as fraudulent.

In its clarification, the electoral commission urged members of the public to disregard the publication and avoid circulating it further.

INEC also addressed claims that it had issued a special announcement concerning governorship candidates in the six states.

The commission stated: “The public is advised to rely solely on official notices, press releases, and other information issued through the Commission’s verified communication channels.”

It added that any information suggesting it had issued a special announcement concerning governorship candidates in the affected states was false.

“The Commission further wishes to clarify that any information suggesting that INEC has issued a special announcement concerning governorship candidates in the aforementioned states is false,” the statement said.

The commission urged Nigerians to verify electoral information through its official communication channels before sharing such information online.

INEC said the public should remain vigilant to avoid being misled by false or fraudulent publications concerning the electoral process.

The commission also provided contact details through which members of the public can seek clarification on electoral matters.

According to the notice, Nigerians can contact the INEC Call Centre on 0700-2255-4632 or use the short code 4632.

Other telephone contacts provided are 090844444333 and 09050858629, while enquiries can also be sent to [email protected].

The commission listed its official website as inecnigeria.org and its news portal as inecnews.com.

INEC reiterated its commitment to keeping the public accurately informed and urged Nigerians to obtain election-related information only through its official communication channels.

The clarification comes amid public attention surrounding the publication of final lists of governorship candidates for the 2027 elections, including reports concerning the omission of some candidates from the lists released by the commission.

Otunba Segun Showunmi, a chieftain of the Peoples Democratic Party (PDP) and former spokesperson for Atiku Abubakar, has urged Nigerians to look beyond current political controversies and give President Bola Tinubu’s administration more time, arguing that the country’s ongoing reforms should be assessed on their long-term outcomes.

Showunmi made the appeal in a statement published on his X account on Sunday, October 11, 2026, as political discussions ahead of the 2027 general election continue to gather attention.

He argued that the call for continuity was not based on Tinubu’s name or personality but on what he described as a broader national project aimed at rebuilding the country.

SEE ALSO: CNG Initiative: Why Tinubu’s Gov’t Moved Beyond Plan for 3,000 Buses – Coker

“We have not asked you to support continuity because his name is Asiwaju @officialABAT. He could just as well have been named Peter Atiku Tinubu, and it would make no difference to our argument,” he said.

According to Showunmi, the central issue is whether Nigeria should be allowed to continue its current reform process rather than making political decisions based on personalities or sentiments.

“Our plea is simple: give Nigeria the opportunity to continue this journey of national rebirth. The process is underway. Its effects are beginning to emerge, and the ambition is for its benefits to reach every Nigerian, everywhere,” he stated.

He acknowledged that Nigerians were still experiencing economic difficulties but cautioned against interpreting the hardship as proof that the reform process had failed.

“There is still work to be done, and the hardship many people face must never be dismissed. But we must not confuse the pain of transition with the failure of the journey,” Showunmi said.

The PDP chieftain also challenged Nigerians to scrutinise the records and policy proposals of politicians seeking to replace Tinubu, urging voters to consider what they offered beyond campaign promises.

“What exactly are they proposing? How does it differ from what is being done? What did they do when they had the opportunity? And, most importantly, can their promises withstand the scrutiny of their own records?” he asked.

He maintained that decisions about the country’s leadership should be based on policies, records and measurable outcomes rather than political loyalty or resentment.

“Nigeria cannot afford to make consequential decisions on the strength of slogans, sentiments, personalities or political resentment. We must judge ideas by their substance, leadership by its record, and policies by their outcomes,” he said.

‘This Is Bigger Than Tinubu’

Showunmi stressed that his argument was not that the country had achieved perfection under the current administration but that its reform efforts deserved an honest assessment.

“The argument is not that everything is perfect today. The argument is that the work of rebuilding Nigeria must be judged honestly, and the journey must be given the opportunity to deliver its full promise,” he stated.

He urged Nigerians to place the national interest above political differences when assessing the country’s direction ahead of the next election.

“That is why we ask you to look again, think deeply, and consider the national interest above every other sentiment,” he added.

Concluding his appeal, Showunmi reiterated that the issue extended beyond Tinubu as an individual, describing it as a question of Nigeria’s future and the responsibilities owed to generations to come.

“This is bigger than Asiwaju. It is about Nigeria, the country we must rebuild for ourselves and the generations coming after us,” he said.