Former Labour Party presidential candidate Peter Obi has called for greater transparency over fresh approvals in the power sector, warning that Nigeria risks remaining stuck in a prolonged electricity crisis.
In a post shared on his official X handle on Tuesday, Obi questioned the Federal Government’s latest approval of ₦3.3 trillion for power sector liabilities, describing the development as part of a recurring pattern that has yet to deliver results.
Obi noted that the new approval mirrors previous interventions, pointing out that on May 17, 2024, ₦3.3 trillion was approved for similar obligations, followed by a ₦4 trillion bond on July 25, 2024.
“This raises a fundamental question: were the previous approvals mere announcements without execution?” he asked.
The former Anambra State governor expressed concern that despite the repeated financial commitments, electricity supply across the country has continued to deteriorate, referencing earlier assurances by Bola Tinubu during the 2023 election campaign.
“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 said.
“Today, the reality is that power supply has worsened,” he added, citing reports suggesting that even the Presidential Villa could face disconnection from the national grid.
Obi criticised what he described as a cycle of policy declarations without tangible outcomes.
“Each time legitimate concerns are raised, what we see appears more like policy pronouncements than measurable progress,” he said.
He also linked the growing debt burden in the sector to successive administrations under the All Progressives Congress, raising broader concerns about fiscal discipline.
“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 stated.
The former presidential candidate further questioned why government agencies, including the Presidential Villa, had failed to meet electricity payment obligations despite budgetary allocations.
“Year after year, budgets were made and funds appropriated. Why then were these obligations not settled when due?” he asked.
Obi listed several unresolved issues surrounding the debt, calling for clarity on its origin and structure.
“How did the debt accrue? What is the actual total debt in the power sector? Which components of the debts are due to operators’ inefficiency and should be borne by them? Why have previous approvals not translated into tangible improvements? Who are the real beneficiaries of these repeated payments?” he queried.
He also sought clarification on whether the newly approved ₦3.3 trillion differs from earlier approvals.
“Is the ₦3.3 trillion approved on April 6, 2026, the same as the ₦3.3 trillion approved in May 2024, and how does it relate to the ₦4 trillion bond approved in July 2024?” he asked.
Obi stressed the need for a shift from repeated financial approvals to concrete reforms in the power sector.
“Nigeria must move beyond recycled announcements and confront the power sector crisis with sincerity, transparency, and decisive reforms,” he said.
He warned that without meaningful action, the country would remain locked in a cycle of inadequate power supply.
“Until we do so, we will remain trapped in a cycle of debt and darkness,” Obi stated, expressing optimism that improvement remains possible with discipline and accountability.