The Labour Party presidential candidate in the 2023 general election, Peter Obi, has criticised President Bola Ahmed Tinubu over his administration’s recent approval of ₦3.3 trillion to clear legacy debts in country’s power sector and improve electricity.

In a statement on Tuesday, Mr Obi said the latest approval mirrors similar allocations made in the past, including ₦3.3 trillion approved on May 17, 2024, and a ₦4 trillion bond approved on July 25, 2024, all aimed at addressing the same liabilities.

“There have also been other approvals in between, all targeted at addressing the same power sector liabilities. This raises a fundamental question: were the previous approvals mere announcements without execution?” he said.

Mr Obi stated that the recurring interventions highlight deeper concerns about governance in the sector.

“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 added.

Mr Obi also recalled that Mr Tinubu had pledged during the 2023 election campaign to deliver stable electricity or not seek re-election, noting that the situation had worsened.

“President Bola Ahmed Tinubu made a clear promise: that if he failed to deliver stable electricity, Nigerians should not re-elect him. Today, the reality is that power supply has worsened, to the extent that there are even discussions about disconnecting the Presidential Villa from the national grid,” he added.

Mr Obi said that government institutions, including the Presidential Villa, accounted for a significant portion of the outstanding debts despite annual budgetary provisions meant to cover such obligations.

He urged the government to move beyond recycled announcements and instead pursue transparent and decisive reforms to address the persistent crisis in the power sector.