Peter Obi has raised concerns over repeated federal government approvals of trillions of naira to settle power sector debts, questioning their transparency and impact.
The former Labour Party presidential candidate on Tuesday slammed the recent N3.3 trillion approval via a post on his official X handle, describing it as a “full and final” payment for electricity sector liabilities, noting that similar interventions in the past had not yielded visible improvements.
“Let us reflect, sincerely and without sentiment,” he said.
Obi recalled that N3.3 trillion was approved on May 17, 2024, followed by a N4 trillion bond on July 25, 2024, for similar purposes.
“This raises a fundamental question: were the previous approvals mere announcements without execution?” he asked.
He expressed concern that despite these interventions, the electricity supply has worsened, referencing campaign promises made by President Bola Ahmed Tinubu during the 2023 elections.
“During the campaign, President Bola Ahmed Tinubu promised that if he failed to deliver stable electricity, Nigerians should not re-elect him. Today, the reality is that power supply has worsened,” Obi stated.
The former Anambra governor also criticised what he described as a pattern of policy pronouncements without measurable outcomes, linking the growing debts to successive administrations between 2015 and 2025.
He further questioned why government institutions, including the Presidential Villa, reportedly owe electricity bills despite budgetary provisions.
Obi called for accountability, asking key questions about how the debts were accumulated, who benefits from the payments, and why previous approvals have not translated into improved power supply.
“Nigeria must move beyond recycled announcements and confront the power sector crisis with sincerity, transparency, and decisive reforms,” he said.
He warned that without urgent action, the country risks remaining “trapped in a cycle of debt and darkness.”
