The Nigeria Democratic Congress has said its presidential candidate, Peter Obi, and running mate, Rabiu Musa Kwankwaso, will tackle fiscal recklessness and prevent the continued erosion of Nigeria’s commonwealth, while responding to President Bola Tinubu’s criticism of Obi over gully erosion in Anambra State.
In a statement shared on social media by the NDC National Presidential Campaign Council spokesperson, Dr Chiogo Constance Ikokwu, the party said the Obi-Kwankwaso ticket was committed to prudent management of public resources, accountability and productive investments that would improve Nigerians’ welfare.
The party said its candidates’ mission went beyond addressing environmental challenges, accusing the Tinubu administration of adopting a borrowing-dependent economic model that had failed to deliver corresponding benefits to citizens.
The NDC questioned the administration’s management of the financial gains expected from the removal of the petrol subsidy, arguing that increased revenue generation and frequent borrowing had not translated into adequate funding for critical sectors.
“Nigerians deserve to know what has happened to the promised fiscal benefits of subsidy removal, particularly against the backdrop of the administration’s frequent borrowing, increased revenue generation, poor debt-service-to-revenue ratio and inadequate funding of critical public services like health and education,” the statement read.
The party said an Obi-Kwankwaso administration would not allow the country to continue accumulating debts without corresponding benefits for citizens, who, according to it, were grappling with poverty, unemployment, insecurity and declining purchasing power.
To support its argument on fiscal management, the NDC compared the financial records of Obi and Tinubu during their respective tenures as governors of Anambra and Lagos states.
It claimed that Obi left the equivalent of $500m in investments, alongside local and foreign currency assets, including $156m in dollar-denominated bonds, when he left office in Anambra State in 2014.
In contrast, the party cited figures from the Debt Management Office, which it said put Lagos State’s external debt at approximately $190.43m at the end of 2007, when Tinubu handed over to his successor.
The NDC also criticised Tinubu’s administration in Lagos over the state’s pension law for former governors and deputy governors, alleging that it provided excessive lifetime benefits.
According to the statement, the law entitled former governors and their deputies to pensions equivalent to 100 per cent of the incumbent governor’s basic salary, houses in Lagos and Abuja, multiple vehicles, furniture and utility allowances, entertainment benefits, free medical care, house maintenance allowances and domestic staff.
The party said the package was so excessive that a subsequent administration was compelled to review it, adding that Obi did not establish a pension scheme for former governors in Anambra State.
The NDC argued that its presidential ticket offered Nigerians an alternative to what it described as Tinubu’s borrowing-dependent and public funds-eroding model of governance.
It said the proposed Obi-Kwankwaso administration would prioritise accountability, productive investment and measurable improvements in citizens’ welfare.
The party further warned that excessive borrowing and poor fiscal management could undermine the country’s economic stability, citing historical examples such as the Ottoman Empire, 19th-century Egypt, Argentina and Zambia.
“If not stopped, Nigeria is in serious trouble,” the statement warned.
Addressing Tinubu’s criticism of Obi over erosion in Anambra State, the NDC said the former governor had taken steps to tackle the environmental challenge during his tenure.
It said Obi helped attract and launch the World Bank-supported Nigeria Erosion and Watershed Management Project in Anambra, while also mandating the construction of proper drainage systems connected to safe discharge points along newly built state roads.
The party listed Adazi Nnukwu, Amawbia and Umuoji among communities where local flood-control measures, including concrete drainage channels, were executed.
It added that Obi regularly engaged the Federal Government to secure ecological intervention funds for the state, while emphasising the need for accountability in their utilisation.
The NDC said its broader objective was to prevent the depletion of Nigeria’s public wealth while creating economic opportunities for present and future generations.
“The Obi-Kwankwaso mission is about stopping fiscal recklessness and the erosion or decimation of Nigeria’s commonwealth, while providing economic opportunities for Nigerians today and for future generations,” the statement added.
