Former Labour Party presidential candidate, Peter Obi, has questioned the Federal Government’s latest approval of ₦3.3 trillion to clear debts in Nigeria’s power sector.
He described the move as part of a troubling pattern of repeated announcements with little visible impact.
In a statement posted on his X page, Obi urged Nigerians to reflect critically on the country’s energy policies, warning that successive financial interventions had yet to translate into a reliable electricity supply.
Obi drew attention to what he sees as a recurring trend of large-scale financial commitments to the power sector that have not delivered expected results.
He highlighted a series of approvals over the past two years, pointing out a striking pattern.
He said on May 17, 2024, ₦3.3 trillion was approved to offset power sector debts.
Obi added that this was followed by a ₦4 trillion bond issued on July 25, 2024, for the same purpose. Most recently, on April 6, 2026, a fresh ₦3.3 trillion was approved as a “full and final” settlement.
According to him, the repetition raises serious concerns about implementation.
He questioned whether earlier approvals were genuinely executed or merely remained on paper.
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Reflecting on the 2023 election campaign, Obi recalled that President Bola Tinubu had promised to deliver stable electricity.
However, he argued that the situation had since worsened, with ongoing reports of deepening challenges across the sector.
He also pointed to concerns about unpaid electricity bills by government institutions, including the Presidential Villa, despite annual budgetary provisions intended to cover such expenses.
Obi maintained that the current administration, alongside previous governments led by the All Progressives Congress (APC) since 2015, must account for the growing debt burden in the sector.
The former Anambra State governor raised several pressing questions.
He asked whether the government is resorting to fresh borrowing to finance these payments.
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He also questioned the actual size of the sector’s debt and how much of it stems from inefficiencies within private operators.
He sought clarity on who ultimately receives these payments, given that the electricity supply remains unstable.
Obi warned that Nigeria risked remaining trapped in a cycle of debt and poor service delivery unless authorities embraced transparency and meaningful reform.
He stressed that solving the country’s electricity challenges would require more than repeated financial approvals, urging a shift towards accountability, discipline, and structural change.
While acknowledging the scale of the problem, he insisted that lasting progress remained possible if the right policies and leadership were put in place.
