'Copy South Africa' – Peter Obi decries Nigeria's 'unproductive' borrowing

Peter Obi, presidential candidate of the Nigeria Democratic Congress, urged Nigeria to emulate South Africa's transparent borrowing practices. He praised South Africa's $1 billion loan from the New Development Bank for its clear purpose, identifiable projects, and measurable benefits. Obi criticized Nigeria's debt rise from about ₦87 trillion in 2023 to nearly ₦200 trillion, with secretive deployment of funds. He demanded that every loan be tied to productive investments that improve citizens' lives.