• Latest
  • Trending
  • All
  • Politics

Obi Laments Nigeria’s Debt Profile

14/03/2020
Ikemba Front Mourns Veteran Journalist, Nweze

Ikemba Front Mourns Veteran Journalist, Nweze

09/10/2025
NAN Backs SWAN 60th Anniversary, Award Celebration 

NAN Backs SWAN 60th Anniversary, Award Celebration 

09/10/2025
Correspondents’ Chapel Of NUJ Mourns Nweze

Nweze, SWAN’s Mr Spencer Dies

08/10/2025
Anambra Assembly Confirms Electricity Regulatory Commission Board Members

Anambra Assembly Confirms Electricity Regulatory Commission Board Members

08/10/2025
Correspondents’ Chapel Of NUJ Mourns Nweze

Soludo Commiserates Correspondents’ Chapel Over Death Of Member, Nweze

08/10/2025
Correspondents’ Chapel Of NUJ Mourns Nweze

Correspondents’ Chapel Of NUJ Mourns Nweze

08/10/2025
Onitsha Traditional Council Condemns Use Of Masquerades For Political Campaigns 

Onitsha Traditional Council Condemns Use Of Masquerades For Political Campaigns 

08/10/2025
Chimezie Heads SWAN 60th Anniversary 7-Man Media Committee

SWAN@60: LOC Explores Strategic Partnership With Wells Carlton, Abuja

07/10/2025
Anambra NULGE Alleges NLC Chairman Using Illegal Exco To Siphon Workers’ Check Off Dues

Anambra NULGE Alleges NLC Chairman Using Illegal Exco To Siphon Workers’ Check Off Dues

07/10/2025
Teva Foods To Plant 200,000 Fruit Trees In Southeast 

Teva Foods To Plant 200,000 Fruit Trees In Southeast 

06/10/2025
Rainy Season: Prevent Malaria, Sleep Under Insecticide Treated Nets —-Njelita

Ulcer: CMD Warns Against Excess Intake Of Painkillers 

06/10/2025
Jewish Community in Nigeria Disowns IPOB

Jewish Community in Nigeria Disowns IPOB

06/10/2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, October 10, 2025
  • Login
News Monitor ::
  • Home
  • World
    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra: Umuoji Elects New Town Union Executive 

    Anambra: Umuoji Elects New Town Union Executive 

    PDP Directs Members To Vote Its Candidates For Anambra By-Election

    PDP Anambra Calls On INEC To Protect Internal Party Democracy

    Nweke, AA Candidate Promises Safer, Prosperous Anambra 

    Nweke, AA Candidate Cautions Against Derogatory Statements

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

    Anambra Gov’t Intensifies Crackdown On Unapproved, Dangerous Structures 

    Anambra Gov’t Intensifies Crackdown On Unapproved, Dangerous Structures 

  • Politics
    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra: Umuoji Elects New Town Union Executive 

    Anambra: Umuoji Elects New Town Union Executive 

    PDP Directs Members To Vote Its Candidates For Anambra By-Election

    PDP Anambra Calls On INEC To Protect Internal Party Democracy

    Nweke, AA Candidate Promises Safer, Prosperous Anambra 

    Nweke, AA Candidate Cautions Against Derogatory Statements

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

  • Entertainment
    Nnaochie Foods: Unveiling Rich Igbo Culinary Museum In Awka

    Nnaochie Foods: Unveiling Rich Igbo Culinary Museum In Awka

    Basorge, Alibaba great inspirations to my entertainment dreams…‘SheddyJoe De Entertainer’’

    Singer Phyno Announces He Is A Father

    Singer Phyno Announces He Is A Father

    Peter Obi mourn Ace Nollywood Actors, Saint Obi, Afolabi

    Peter Obi mourn Ace Nollywood Actors, Saint Obi, Afolabi

    Anambra Govt Lifts Suspension on Wintess Hotel 

    Anambra Govt Lifts Suspension on Wintess Hotel 

    Two Nollywood Actors Feared Kidnapped

    Two Nollywood Actors Feared Kidnapped

    Whitemoney Emerges Winner of BBN6, Coasts Home N90m

    Anambra to upgrade of resorts to tourism sites…Commissioner

  • Health
    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra: Umuoji Elects New Town Union Executive 

    Anambra: Umuoji Elects New Town Union Executive 

    PDP Directs Members To Vote Its Candidates For Anambra By-Election

    PDP Anambra Calls On INEC To Protect Internal Party Democracy

    Nweke, AA Candidate Promises Safer, Prosperous Anambra 

    Nweke, AA Candidate Cautions Against Derogatory Statements

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

  • Sports
    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra: Umuoji Elects New Town Union Executive 

    Anambra: Umuoji Elects New Town Union Executive 

    PDP Directs Members To Vote Its Candidates For Anambra By-Election

    PDP Anambra Calls On INEC To Protect Internal Party Democracy

    Nweke, AA Candidate Promises Safer, Prosperous Anambra 

    Nweke, AA Candidate Cautions Against Derogatory Statements

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

No Result
View All Result
  • Home
  • World
    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra: Umuoji Elects New Town Union Executive 

    Anambra: Umuoji Elects New Town Union Executive 

    PDP Directs Members To Vote Its Candidates For Anambra By-Election

    PDP Anambra Calls On INEC To Protect Internal Party Democracy

    Nweke, AA Candidate Promises Safer, Prosperous Anambra 

    Nweke, AA Candidate Cautions Against Derogatory Statements

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

    Anambra Gov’t Intensifies Crackdown On Unapproved, Dangerous Structures 

    Anambra Gov’t Intensifies Crackdown On Unapproved, Dangerous Structures 

  • Politics
    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra: Umuoji Elects New Town Union Executive 

    Anambra: Umuoji Elects New Town Union Executive 

    PDP Directs Members To Vote Its Candidates For Anambra By-Election

    PDP Anambra Calls On INEC To Protect Internal Party Democracy

    Nweke, AA Candidate Promises Safer, Prosperous Anambra 

    Nweke, AA Candidate Cautions Against Derogatory Statements

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

  • Entertainment
    Nnaochie Foods: Unveiling Rich Igbo Culinary Museum In Awka

    Nnaochie Foods: Unveiling Rich Igbo Culinary Museum In Awka

    Basorge, Alibaba great inspirations to my entertainment dreams…‘SheddyJoe De Entertainer’’

    Singer Phyno Announces He Is A Father

    Singer Phyno Announces He Is A Father

    Peter Obi mourn Ace Nollywood Actors, Saint Obi, Afolabi

    Peter Obi mourn Ace Nollywood Actors, Saint Obi, Afolabi

    Anambra Govt Lifts Suspension on Wintess Hotel 

    Anambra Govt Lifts Suspension on Wintess Hotel 

    Two Nollywood Actors Feared Kidnapped

    Two Nollywood Actors Feared Kidnapped

    Whitemoney Emerges Winner of BBN6, Coasts Home N90m

    Anambra to upgrade of resorts to tourism sites…Commissioner

  • Health
    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra: Umuoji Elects New Town Union Executive 

    Anambra: Umuoji Elects New Town Union Executive 

    PDP Directs Members To Vote Its Candidates For Anambra By-Election

    PDP Anambra Calls On INEC To Protect Internal Party Democracy

    Nweke, AA Candidate Promises Safer, Prosperous Anambra 

    Nweke, AA Candidate Cautions Against Derogatory Statements

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

  • Sports
    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra Guber: Nwosu Says ADC Best Alternative To APGA, APC 

    Anambra: Umuoji Elects New Town Union Executive 

    Anambra: Umuoji Elects New Town Union Executive 

    PDP Directs Members To Vote Its Candidates For Anambra By-Election

    PDP Anambra Calls On INEC To Protect Internal Party Democracy

    Nweke, AA Candidate Promises Safer, Prosperous Anambra 

    Nweke, AA Candidate Cautions Against Derogatory Statements

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Obidients Movement Celebrates Peter Obi’s 64th Birthday In Anambra 

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Anambra Guber:: ADC Will End APGA’s 20-Year Grip Of Anambra—– Nwobu

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Nnaochie Foods Gets Commendation For Promoting Igbo Cuisines 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    Anambra Polytechnic Inaugurates Skill Development Centre, Commissioner Pledges Partnership 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

    2027: Atiku Should Be Statesman, Quit Contesting…Equity Movement 

No Result
View All Result
News Monitor ::
No Result
View All Result
Home General News

Obi Laments Nigeria’s Debt Profile

by News Monitor
in General News, Politics
0
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

. . . Says borrowing without business case is mortgaging the future

The Vice Presidential Candidate of the People’s Democratic Party (PDP), Mr Peter Obi has lamented the rising debt profile of the nation owing to what he described as excessive and reckless borrowing. Obi who spoke at The Morning Show on Arise Television on Wednesday, March 11, 2020, said the current debt position of the country called for a serious concern.

Obi explained that financial borrowing was not entirely bad if the borrowed funds were put into productive use. He said however that borrowing without a business case or convincing business plans only meant mortgaging the future.

“Everybody knows my stand on borrowing. I am against reckless borrowing and borrowing for consumption. If you must borrow, you must be able to convincingly prove to us the business case of the borrowing, otherwise you are mortgaging the future”, Obi said.

“All the funds that have been borrowed for long in the country have not impacted positively on the growth of Nigeria’s economy, meaning that they were reckless and meant for consumption. Kenya is borrowing. Ghana is borrowing. Most countries do borrow. But what are the funds used for? In 2010, Ghana’s Gross Domestic Product stood at 32 billion US Dollars, but as at 2019 their GDP had grown to 64.5 billion US Dollars”, Obi noted.

Obi warned that excessive financial borrowing would hit the country hard if it was not curtailed. He added that the country’s borrowed funds from 2008 till date stood at almost 100 billion US Dollars, which represented a quarter of the country’s Gross Domestic Product (GDP). He said that it was not enough “to tell us that you will use the borrowed funds for this or that without presenting any business case for such funds”.

“No country borrows a quarter of its GDP without showing tangible investments or projects into which the borrowed funds were employed”, Obi said.

Obi further bemoaned the significant decrease in Nigeria’s Foreign Direct Investment (FDI) which he said was as a result of the high level of insecurity in the country. He noted that the alarming level of insecurity in the country also discouraged local investors from investing into Nigeria’s economy which was negatively affecting the economy.

Share196Tweet123Share49
News Monitor

News Monitor

  • Trending
  • Comments
  • Latest
Erosion destroys property worth ₦200m at Rojenny Stadium—Ezeonwuka (videos)

Erosion destroys property worth ₦200m at Rojenny Stadium—Ezeonwuka (videos)

18/07/2023
Dorman Long Engineering HR,  Funmi Accused Of Alleged Bullying, Harassment Of Colleagues

Dorman Long Engineering HR,  Funmi Accused Of Alleged Bullying, Harassment Of Colleagues

08/03/2025

Ezeonwuka Lauds Anambra Gov’t  Burial Law, Ban On Depositing Of Dead Bodies In Morgues

02/02/2024

Police Returns To Regular Operations, Urges Public Confidence In Anambra

20

Sports Journalists Must Understand Games’ Rules, Be ICT Compliant…Nezianya

8

Ubah returns as Anambra FA Chairman, Balepo elected member

1
Ikemba Front Mourns Veteran Journalist, Nweze

Ikemba Front Mourns Veteran Journalist, Nweze

09/10/2025
NAN Backs SWAN 60th Anniversary, Award Celebration 

NAN Backs SWAN 60th Anniversary, Award Celebration 

09/10/2025
Correspondents’ Chapel Of NUJ Mourns Nweze

Nweze, SWAN’s Mr Spencer Dies

08/10/2025
News Monitor ::

Copyright © 2022 News Monitor.

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Home
  • World
  • Politics
  • Entertainment
  • Health
  • Sports

Copyright © 2022 News Monitor.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In