APC-led Federal Government spends about 11 times more on interest payment than on capital projects

According to a report by Daily Post on Monday, October 12, 2026, the presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has criticised President Bola Tinubu’s economic policies, expressing concern over the Federal Government’s spending priorities and its growing debt obligations.

Obi alleged that the Federal Government spends approximately 11 times more on servicing debt interest than on capital projects, raising questions about the allocation of public funds and the government’s commitment to infrastructure development.

The former Anambra State governor made the remarks in a statement shared on his official X account while reacting to a World Bank report on Nigeria’s economic performance.

According to Obi, figures from the report indicated that the Federal Government spent N7.7 trillion on debt interest payments between January and June 2026.

The amount, he noted, exceeded the N6.2 trillion generated as revenue within the same period.

The figures have renewed concerns about the country’s fiscal position, particularly the pressure debt servicing places on government finances and the resources available for critical development projects.

Obi argued that the disparity between expenditure on debt interest and capital projects reflected what he considered a major weakness in the economic management of the All Progressives Congress (APC)-led administration.

He maintained that the government’s spending pattern deserved closer scrutiny, especially amid ongoing economic challenges and the need to invest in infrastructure and other sectors capable of improving the living conditions of Nigerians.

The NDC presidential candidate also questioned the balance between debt obligations and investments that could support economic growth, create employment opportunities and strengthen essential public services.

Obi wrote, “In comparison, the APC-led Federal Government spends about 11 times more on interest payment than on capital projects.”

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