Obi asks Tinubu to account for subsidy savings and over $100bn in loans

Peter Obi, presidential candidate of the Nigeria Democratic Congress (NDC), has called on President Bola Tinubu to account for money saved from the removal of the fuel subsidy and from government borrowing.
What Obi said
In a statement on his X account on Saturday, 7 November 2026, titled 'Good Day, Mr President: Nigerians Deserve Accountability', Obi said the large sums flowing into government coffers, including higher tax revenues, should be producing clear improvements in Nigerians' daily lives. He urged the President to visit the remaining 33 states he has not yet toured, spend time with the people and explain what his administration had done with the ₦15.8 trillion he said had been saved from subsidy removal, the more than $100 billion he said had been borrowed, and increased revenue from taxes.
The background to the exchange
Obi's statement came a day after Tinubu, speaking in Akwa Ibom, criticised the former Anambra governor's record on erosion in the state. At a reception in Uyo the same day, Tinubu said the naira would have become worthless without his reforms and that Nigeria would never go back to the subsidy. Vice-President Kashim Shettima also told an APC rally in Uyo that Obi had run himself out of the race.
The figures
Obi did not give a breakdown of how he arrived at the figures. The World Bank reported this week that Nigeria's total external debt, including private-sector debt, rose to about $145 billion in 2025. The government says its borrowing is needed to fund infrastructure and that its reforms have saved the economy from collapse.
What happens next
The Presidency had not publicly responded to Obi's statement at the time of writing. The presidential election is scheduled for 16 January 2027.
- Obi cited ₦15.8 trillion in subsidy savings.
- He said Tinubu had borrowed over $100 billion.
- The statement followed Tinubu's remarks in Akwa Ibom.



