By Myke Uzendu, Abuja
The Nigeria Democratic Congress (NDC) has said its presidential candidate, Mr. Peter Obi, and his running mate, Engr. Rabiu Musa Kwankwaso, are seeking to address what it described as the erosion of Nigeria’s commonwealth through excessive borrowing and alleged mismanagement of public resources.
The party made the declaration in a statement responding to President Bola Tinubu’s criticism of Obi over the persistent gully erosion menace in Anambra State.
In a statement signed by Dr. Chiogo Ikokwu, spokesperson of the NDC National Presidential Campaign Council over the weekend, NDC said the mission of its presidential ticket went beyond addressing environmental erosion, arguing that it was focused on stopping what it described as the rapid depletion of the nation’s public wealth.
According to the party, the Obi-Kwankwaso agenda would address the contradiction between the expected fiscal gains from fuel subsidy removal, the administration’s continued borrowing and what it described as inadequate funding of critical sectors.
It questioned what had happened to the anticipated financial benefits of subsidy removal, particularly in view of increased revenue generation, frequent borrowing, debt-service obligations and inadequate funding of public services such as healthcare and education.
The party said Nigerians deserved explanations on the administration’s fiscal direction, adding that the Obi-Kwankwaso ticket would seek to move the country away from what it described as a borrowing-dependent economic model.
“Obi/Kwankwaso will not allow Nigeria to continue borrowing at an alarming rate, without corresponding benefits, while citizens endure worsening poverty, unemployment, insecurity and declining purchasing power,” the statement said.
To support its argument, 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 $500 million in investments and local and foreign currency assets when he left office in 2014, including $156 million in dollar-denominated bonds.
