Peter Obi Criticizes Tinubu Administration Over "Recycled" N3.3 Trillion Power Sector Debt Approval

Peter Obi questions the transparency of President Tinubu’s N3.3 trillion power sector debt approval, noting similar funds were approved in 2024 with no results.

By: AXL Media

Published: Apr 7, 2026, 8:40 AM EDT

Source: Information for this report was sourced from Politics Nigeria

Questions Over Redundant Financial Approvals

The 2023 Labour Party presidential candidate, Peter Obi, has issued a sharp rebuke of the federal government’s latest financial intervention in the energy sector. Reacting to the April 6, 2026, approval of N3.3 trillion to settle power sector obligations, Obi highlighted a concerning pattern of repetitive budgeting. He noted that an identical sum of N3.3 trillion had been approved for the same purpose on May 17, 2024, alongside a N4 trillion bond in July 2024. The former governor questioned whether previous approvals were merely "announcements without execution" or if the nation is trapped in a cycle of paying for the same inefficiencies multiple times.

A Growing Disconnect Between Funding and Supply

Despite the trillions of Naira funneled into the sector, Obi argued that the reality for average Nigerians is a worsening power supply. He referenced President Tinubu’s 2023 campaign promise to deliver stable electricity, noting that the situation has deteriorated to the point where there are public discussions about disconnecting even the Presidential Villa from the national grid. Obi characterized the government's approach as a series of "policy pronouncements" that lack measurable progress, leaving the country "trapped in a cycle of debt and darkness."

Accountability in Public Financial Management

A significant portion of the accumulated debt is owed by government institutions and agencies, including the Presidency itself. Obi queried why these obligations were not settled through original annual budgets and expressed concern over the source of the new N3.3 trillion payment. He raised the alarm over the possibility of the government "resorting once more to borrowing to service inefficiencies," citing a lack of accountability and transparency in how these debts accrued between 2015 and 2025 under successive APC administrations.