2027: Obi is coming to stop the erosion of Nigeria’s commonwealth, NDC tells Tinubu

By Henry Umoru Ahead of the January 16, 2027 presidential election, the Nigeria Democratic Congress (NDC) has said its presidential candidate, Peter Obi, is coming to stop what it described as the erosion of Nigeria’s commonwealth if elected president. The party said Obi and his running mate, Senator Rabiu Kwankwaso, were determined to address the growing contradiction between the expected gains from fuel subsidy removal, the Tinubu administration’s frequent borrowing and the persistent underfunding of national budgets.

In a statement yesterday, signed by the Spokesperson of the NDC National Presidential Campaign Council, Dr Chiogo Ikokwu, the party said Nigerians deserved to know what had happened to the promised fiscal benefits of subsidy removal, particularly amid increased revenue generation, rising debt obligations and inadequate funding of critical public services such as health and education.

The NDC was reacting to President Bola Tinubu’s remarks on Friday, in which he mocked Obi over what he described as the former Anambra State governor’s failure to address the erosion menace in the state during his tenure. The President made the remarks while addressing supporters and members of the All Progressives Congress (APC) at a campaign rally in Akwa Ibom State.

Although he did not mention Obi by name, Tinubu said the former governor had failed to tackle erosion in Anambra, while he had confronted and tamed the Atlantic Ocean in Lagos State. However, the NDC said the Obi-Kwankwaso ticket would not allow Nigeria to continue borrowing at an alarming rate without corresponding benefits, while citizens grapple with worsening poverty, unemployment, insecurity and declining purchasing power.

The statement read: “The National Democratic Congress (NDC) has taken careful note of President Bola Tinubu’s swipe at Mr Peter Obi over the erosion menace in Anambra State. But we want to remind the President that the mission of the presidential candidate of the Nigeria Democratic Congress (NDC), Mr Peter Obi, and his running mate, Engr Rabiu Musa Kwankwaso, is much bigger: to stop the rapid erosion of Nigeria’s commonwealth.

“Obi-Kwankwaso’s mission is to address the growing contradiction between the gains expected from fuel subsidy removal, Mr President’s seemingly one-week, new loan and the persistent underfunding of national budgets. “Nigerians deserve to know what has happened to the promised fiscal benefits of subsidy removal, particularly against the backdrop of the administration’s frequent borrowing, increased revenue generation, poor debt-service-to-revenue ratio and inadequate funding of critical public services like health and education.

“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 party also 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, alongside local and foreign currency holdings, including $156 million in dollar-denominated bonds, when he left office in 2014.

In contrast, it cited Debt Management Office figures which, according to the party, put Lagos State’s external debt at approximately $190.43 million at the end of 2007, when Tinubu handed over to his successor. The NDC also criticised the Lagos State pension law enacted during Tinubu’s administration, which it said granted former governors and their deputies, including Tinubu, lifetime benefits.

The benefits, according to the party, included pensions equivalent to 100 per cent of the incumbent governor’s basic salary, houses in Lagos and Abuja, vehicles, furniture and utility allowances, free medical care, house maintenance allowances and domestic staff. It said the package was so excessive that a subsequent administration was compelled to review some of its provisions, adding that Obi did not establish a similar pension scheme for former governors in Anambra State.

The party said the Obi-Kwankwaso ticket offered Nigerians an opportunity to depart from what it described as Tinubu’s borrowing-dependent and wasteful governance model in favour of prudent management of public resources, accountability, productive investment and measurable improvements in citizens’ welfare. It warned that excessive borrowing, unsustainable debt and poor fiscal management had contributed to the decline of powerful empires and nations throughout history.