Former Labour Party presidential candidate, Peter Obi, has called for greater transparency and accountability following the Federal Government’s fresh approval of ₦3.3 trillion to address liabilities in the power sector.
In a statement shared on his official X account on Tuesday, Obi expressed concern over what he described as repeated financial interventions in the electricity sector without corresponding improvement in power supply across the country.
He noted that the latest approval mirrors previous interventions, recalling that a similar ₦3.3 trillion was approved on May 17, 2024, for related obligations, while an additional ₦4 trillion bond was approved on July 25, 2024.
According to him, the repeated approvals raise serious questions about execution and transparency.
“This raises a fundamental question: were the previous approvals mere announcements without execution?” Obi queried.
The former Anambra State governor lamented that despite the huge sums committed to the sector over the years, electricity supply has continued to decline rather than improve.
He referenced President Bola Ahmed Tinubu’s 2023 campaign promise on stable electricity, noting that the present situation falls short of public expectations.
“During the 2023 campaign, President Bola Ahmed Tinubu made a clear promise that if he failed to deliver stable electricity, Nigerians should not re-elect him,” Obi stated.
He added that the reality on ground suggests worsening power supply, citing reports that even the Presidential Villa may be at risk of disconnection from the national grid.
Obi criticised what he described as a pattern of repeated policy pronouncements without measurable outcomes, stressing that the growing debt profile in the sector raises concerns about fiscal discipline and public financial management.
“These debts were largely accumulated under successive administrations of the All Progressives Congress between 2015 and 2025. This raises serious concerns about accountability, transparency, and effectiveness in public financial management,” he said.
He further questioned why the liabilities were allowed to accumulate despite annual budgetary provisions and appropriations.
“Year after year, budgets were made and funds appropriated. Why then were these obligations not settled when due?” he asked.
Obi also demanded clarity on the exact structure and origin of the debts, asking critical questions about who should bear responsibility for certain liabilities.
Among the issues he raised were how the debt accrued, the actual total debt in the power sector, which portion resulted from operators’ inefficiency, and who the real beneficiaries of the repeated payments are.
He also sought clarification on whether the newly approved ₦3.3 trillion is separate from the earlier ₦3.3 trillion approved in May 2024 and how it relates to the ₦4 trillion bond approved in July of the same year.
Obi stressed that Nigeria must move beyond repeated financial approvals and focus on genuine reforms capable of delivering stable electricity supply.
“Nigeria must move beyond recycled announcements and confront the power sector crisis with sincerity, transparency, and decisive reforms,” he said.
He warned that without concrete action, the nation would remain trapped in a cycle of mounting debt and persistent darkness, while expressing optimism that the sector can still improve through discipline, transparency, and accountability.
Obi Demands Transparency Over Fresh ₦3.3tn Power Sector Approval, Warns of Worsening Electricity Crisis
