Former Labour Party presidential candidate, Peter Obi, has raised concerns over the Federal Government’s repeated approval of multi-trillion-naira interventions in the power sector, describing the trend as indicative of deeper structural and governance issues.

In a detailed statement shared via his X (formerly Twitter) handle on Tuesday, Obi expressed worry about what he characterized as a recurring pattern of financial approvals for the same liabilities, with little to no visible improvement in electricity supply nationwide.

“Let us reflect, sincerely and without sentiment,” he began, urging Nigerians to critically assess ongoing policy decisions affecting the power sector.

Obi pointed out that the President, Bola Ahmed Tinubu, recently approved ₦3.3 trillion as a “full and final” settlement of outstanding debts in the sector. He noted, however, that similar approvals had been made in the past without clear evidence of resolution.

“On May 17, 2024, ₦3.3 trillion was approved for the same purpose. On July 25, 2024, another ₦4 trillion bond was approved to settle similar debts. There have also been other approvals in between, all targeted at addressing the same power sector liabilities,” he stated.

He questioned whether these earlier approvals were effectively implemented, asking: “Were the previous approvals merely announcements without execution?”

Highlighting the continued instability in electricity supply, Obi referenced campaign promises made ahead of the 2023 general elections, noting that current realities appear to contradict those commitments.

“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.

He added that the situation has deteriorated to the extent that discussions have emerged about disconnecting the Aso Rock Presidential Villa from the national grid—an indication, he argued, of broader systemic failure.

Obi further criticized what he described as a pattern of policy pronouncements lacking measurable outcomes. “Each time legitimate concerns are raised, what we see appears more like announcements than tangible progress,” he said.

The former Anambra State governor also raised issues around accountability and transparency in the accumulation of power sector debts, noting that many liabilities were incurred under successive administrations between 2015 and 2025.

“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.

He also questioned why government institutions—including the Presidential Villa—have continued to accumulate unpaid electricity obligations despite annual budgetary allocations.

“Year after year, budgets were made and funds appropriated. Why then were these obligations not settled when due?” he asked.

Obi further sought clarity on the funding structure of the latest approval, raising concerns about the possibility of additional borrowing.

“And from what source will this new payment be made? Are we once again resorting to borrowing to service inefficiencies?” he queried.

He concluded by calling for transparency regarding the total size and origin of the sector’s debt, as well as accountability for inefficiencies among operators.

“Key questions remain unanswered: How did the debt accrue? What is the actual total debt in the power sector? Which portions are due to operator inefficiencies? Why have previous approvals not translated into tangible improvements?” he asked.

Obi also questioned whether the newly approved ₦3.3 trillion is distinct from, or connected to, previous approvals—including the ₦3.3 trillion sanctioned in May 2024 and the ₦4 trillion bond approved in July of the same year.

Concluding his remarks, he called for a shift from repeated policy announcements to meaningful reform in the electricity sector.

“Nigeria must move beyond recycled announcements and confront the power sector crisis with sincerity, transparency, and decisive reforms. Until then, we will remain trapped in a cycle of debt and darkness,” he stated.