President Tinubu Chairs Federal Executive Council Meeting (Video)

President Bola Ahmed Tinubu on Thursday presided over the Federal Executive Council (FEC) meeting held at the State House in Abuja, with Vice President Kashim Shettima, cabinet ministers, and other council members in attendance.

According to Ireporter Online, the meeting brought together top government officials to deliberate on national issues, as President Tinubu continues to steer executive policy discussions at the federal level.

In a related development, former Labour Party presidential candidate, Peter Obi, has criticised the administration’s rising debt profile, expressing concern over the government’s borrowing practices.

Obi, in a statement issued on Thursday, argued that nations should only take loans that are tied to productive investments with clear repayment strategies, warning against what he described as reckless borrowing.

He further stated that many of the loans secured under the current administration do not align with legal or sound economic principles. His remarks come in response to President Tinubu’s recent assertion that debt should not be treated as a “leprosy.”

Reacting, Obi maintained that borrowing, if mismanaged, could become a “leprosy or a killer cancer,” stressing that Nigeria appears to be borrowing more for consumption than for productive development.

The African Democratic Congress (ADC) chieftain urged the federal government to ensure that borrowed funds are effectively deployed for the benefit of Nigerians, rather than being justified without tangible results.