Former Labour Party presidential candidate, Peter Obi, has raised serious concerns over the federal government’s repeated approvals of trillions of naira to settle power sector debts, questioning their effectiveness and transparency.
In a post on his official X handle on Tuesday, Obi highlighted the latest ₦3.3 trillion approval as a “full and final” settlement for power liabilities, noting that similar disbursements had been made in the past without yielding tangible results.
“Let us reflect, sincerely and without sentiment,” he wrote, referencing previous approvals of ₦3.3 trillion on May 17, 2024, and a ₦4 trillion bond on July 25, 2024, for the same purpose.
Obi expressed frustration over the state of electricity supply despite these interventions, reminding Nigerians of President Bola Tinubu’s 2023 campaign promise that failure to deliver stable electricity would make him ineligible for re-election.
“Today, the reality is that power supply has worsened,” he noted, citing reports that even the Presidential Villa could face grid disconnection.
He criticised what he described as a pattern of repeated policy announcements without measurable outcomes.
“Each time legitimate concerns are raised, what we see appears more like policy pronouncements than tangible progress,” Obi said.
Linking the mounting debts to previous administrations, Obi questioned fiscal management and accountability.
“These debts were largely accumulated under successive APC administrations between 2015 and 2025. This raises serious concerns about transparency, effectiveness, and responsible financial management,” he stated.
He further questioned why government institutions, including the Presidential Villa, have not cleared their electricity obligations despite budgetary allocations.
Obi also sought clarity on whether the recent ₦3.3 trillion approval differs from prior approvals, asking: “Is the ₦3.3 trillion approved on April 6, 2026, the same as that in May 2024, and how does it relate to the ₦4 trillion bond approved in July 2024?”
The former presidential candidate urged the government to move beyond repeated announcements and implement decisive reforms.
“Nigeria must confront the power sector crisis with sincerity, transparency, and effective reforms. Until we do so, we remain trapped in a cycle of debt and darkness,” Obi warned, while expressing optimism that improvements remain possible through accountability and discipline.
