Nigeria owes debt that could build 160 Kainji Dams - Peter Obi

Obi 2

Peter Obi

Peter Obi, Labour Party’s presidential candidate in this month’s presidential election in Nigeria says the nation owed a debt that could build 160 Kainji Dams.

Nigeria’s current debt profile stood at N44. 06 trillion  as of September 2022.

Obi, in a tweet, said Nigeria’s first Prime Minister, Sir Tafawa Balewa borrowed $82m to build Kainji dam.

He said 62 years later the nation was still enjoying the benefit from Kainji dam.

The Labour Party’s presidential candidate added that the nation’s current debt could build 160 dams.

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“Sir Tafawa Balewa borrowed $82m to build Kainji dam; 62 years later we still benefit from Kainji dam.

“Today, we owe a debt that that could build 160 Kainji dams. But where are the dams? We have not invested in regenerative projects,” he tweeted.

Obi also said his party could pull the people out of poverty.

“We can pull our people out of poverty. We must move Nigeria from consumption to production to do so,” he said.

He added that “It’s most regrettable that many Nigerians are today living under multidimensional poverty. For the past years, all we have produced is misery, this is the cumulative effect of bad leadership. Everyone must now care about politics.”

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