The National Democratic Congress (NDC) has defended its presidential candidate, Peter Obi, following President Bola Tinubu’s remarks about the erosion menace in Anambra State, saying the former governor’s mission extends beyond tackling gully erosion to addressing what it describes as the erosion of Nigeria’s commonwealth.
In a statement signed by its National Presidential Campaign Council spokesperson, Dr Chiogo Constance Ikokwu, the party said Obi and his running mate, Rabiu Musa Kwankwaso, were committed to tackling excessive borrowing, fiscal recklessness and the mismanagement of public resources.
The NDC said the Obi-Kwankwaso ticket would address what it described as the contradiction between the expected financial benefits of fuel subsidy removal, increased government revenue and the continued underfunding of critical sectors.
It questioned the whereabouts of the promised fiscal gains from subsidy removal, particularly in view of the Federal Government’s borrowing, rising revenue generation and what it described as a poor debt-service-to-revenue ratio.
The party argued that Nigerians deserved explanations for the continued inadequate funding of healthcare, education and other essential public services despite increased government revenue.
“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 statement said.
To support its argument, the NDC compared the financial records of Obi and Tinubu during their respective tenures as governors of Anambra and Lagos states.
It claimed Obi left the equivalent of $500 million in investments, alongside local and foreign currency assets, including $156 million in dollar-denominated bonds, when he left office in 2014.
The party, however, cited Debt Management Office figures which it said 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 Tinubu over the pension law he signed as Lagos governor, which granted lifetime benefits to former governors and their deputies.
According to the party, the benefits included pensions equivalent to 100 per cent of the incumbent governor’s basic salary, houses in Lagos and Abuja, multiple vehicles, furniture and utility allowances, free medical care and domestic staff.
It further claimed that a subsequent Lagos administration was compelled to review the pension law because of the scale of the benefits.
In contrast, the party said Obi did not establish a pension scheme for former governors in Anambra State.
The NDC described the Obi-Kwankwaso ticket as an opportunity to move Nigeria away from what it called Tinubu’s borrowing-dependent model of governance towards prudent management of public resources, accountability and productive investment.
It warned that excessive borrowing without accountability could undermine the country’s economic stability, citing historical examples including the Ottoman Empire, 19th-century Egypt, Argentina and Zambia.
The party also defended Obi’s record on erosion control in Anambra, saying he attracted and launched the World Bank-supported Nigeria Erosion and Watershed Management Project (NEWMAP) in the state.
It said the former governor also introduced drainage requirements for new state roads and implemented local flood-control projects in communities including Adazi Nnukwu, Amawbia and Umuoji.
The NDC added that Obi regularly sought Federal Government ecological intervention funds, with an emphasis on accountability.
“The bottom line is that Obi-Kwankwaso mission is about stopping fiscal recklessness and the erosion/decimation of Nigeria’s commonwealth, while providing economic opportunities for Nigerians today and for future generations,” the statement added.
The statement was signed by Ikokwu on behalf of the NDC National Presidential Campaign Council.
Faridah Abdulkadiri
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