Exponential increase in revenue with excessive borrowing: Yet more hardship for Nigerians!
In celebrating three years of his administration, President Bola Tinubu included, among his achievements, an increase in revenue from N16.8 trillion in 2022 to N35 trillion in 2025. An increase of over 100%.
Shockingly, while Nigerians expected a reduction in borrowing with the exponential increase in revenue, the opposite is the case. In just three years, President Bola Tinubu’s government seems to be obsessed with excessive and imprudent borrowing, with our total debt currently about N200 trillion—a deeply disturbing increase of over N100 trillion.
In addition to the exponential increases in both revenue and debt, it is also important to note that Nigeria has earned far more than the budget revenue targets due to global and regional geoeconomic and political tensions.
Alarmingly, even with the astronomical increase in both revenue and debt, almost all key socio-economic and governance indicators are worse than in 2023. Multi-dimensional poverty has increased from 87 million people in 2023 to over 140 million people in 2025. Rapidly increasing unemployment and a decline in GDP per capita from $1,597 in 2023 to $1,223 in 2025, and the list goes on.
Just more and more hardship for Nigerians! The question Nigerians and even the international community are asking is, “Where did all the money go?”
Nigerians deserve a detailed and transparent explanation of what happened to our economy and financial resources since 2023, and a stop to the imprudent, unaccountable, and opaque management of our common patrimony.
A new and productive Nigeria is POssible, and Nigeria will be OK! -PO
When I placed the Renewed Hope Agenda before Nigerians, I did not speak of housing in vague terms. I gave my word that this administration would work to make decent homes affordable again, and that a hardworking family, after years of paying rent, would finally have a path to a house of its own.
Let me account for that promise plainly, by juxtaposing what we pledged beside what we have actually achieved.
1/
President Bola Ahmed Tinubu just provided further details on his heavily hyped Renewed Hope Agenda, and the sheer mathematics of this project is deeply disturbing, especially since this mega scheme is aggressively marketed as a lifeline to better the lives of ordinary Nigerians.
In the quoted tweet below, President Tinubu claimed that exactly ₦128 billion in mortgages has been generously delivered to 1,859 families at a fixed interest rate of 9.75% spread over 20 long years through the Ministry of Finance Incorporated.
On the surface, this looks like the ultimate utopian dream project, primarily because a 9.75% mortgage rate is ridiculously low, especially when you compare it to the predatory standard market rates which presently sit anywhere between 20%, 25%, 30%, or even higher depending on the bank.
However, even with this seemingly charitable low interest rate, a simple, cold mathematical breakdown instantly exposes that these supposed affordable homes are entirely out of reach for the average, hardworking Nigerian in whose very name this multibillion Naira PR project is being violently advertised.
To see this blatant scam, simply divide ₦128 billion among 1,859 families, and you will rapidly discover that the average mortgage size is a staggering, eye-watering ₦68.8 million per home. Now, under the exact terms quoted by Tinubu, which is 9.75% interest over 20 years with a mandatory 10% equity contribution of roughly ₦6.8 million, a single family would have to reliably cough up roughly ₦600,000 to ₦650,000 every single month just to service this impossible mortgage.
This mathematical reality clearly demonstrates that the policy architects behind this Renewed Hope Agenda have completely, and spectacularly lost their minds, their touch with reality, and their basic common sense.
First of all, the brand new minimum wage recently signed into law in Nigeria is an alleged, highly disputed ₦70,000, which is an insulting amount that many state governors claim they cannot even afford to pay, sustain, or budget for. Even with this symbolic, poverty-level wage, the average Nigerian that these houses are supposedly built for would genuinely need to starve, save every single kobo, and work for one full uninterrupted year just to afford a single one-month mortgage repayment. Currently, absolutely no middle-class citizen in Nigeria with an honest, verifiable, and legitimate source of living can ever afford to burn this massive amount every month for a house, no matter how stupid, lavish, or financially reckless they want to be.
Now this begs the incredibly obvious, screaming question: why on earth is the Tinubu administration deliberately wasting ₦128 billion (a massive $90 million) to provide subsidized affordable housing to a tiny fraction of 1,859 families who are obviously loaded with cash, highly connected, financially immune, and can easily afford luxury apartments, fund their own private estates, secure massive commercial bank loans, or buy premium properties outright?
This ridiculous allocation of scarce public funds makes zero strategic sense because the exact amount quoted for this vanity project is comfortably enough to buy about 4 highly advanced MQ-9 Reaper drones, fully equip them, heavily arm them, and ship them straight to the bleeding frontlines of Northern Nigeria.
These military-grade drones can stay airborne for 30 continuous hours, monitor the entire terror-infested forests in Borno in less than one hour, track moving targets, and violently update the Nigerian military in real time for any mass gatherings of armed bandits, hostage holding areas, illegal gold mining operations, or cross-border insurgent movements.
The colossal amount of money involved in this project is not merely the ₦128 billion senselessly wasted so far. Obviously, before this entire grand, systemic money laundering scheme is fully completed, more than ₦320 billion will have magically vanished, migrated, and evaporated from the Nigerian Treasury directly into the bloated private offshore accounts of ghost contractors, corrupt civil servants, APC campaign financiers, loyal party chieftains, and the ruling party's untouchable inner circle.
This is complete madness. Our brave men in uniform are constantly being taken by surprise, ambushed, and rounded up by ragtag terrorists simply because their vulnerable forward operating bases do not come equipped with basic acoustic sensors, infrared thermal cameras, night vision goggle, or basic aerial reconnaissance drones to serve as early warning mechanisms. Yet the Commander in Chief is cheerfully burning hundreds of billions of Naira under the guise of public welfare, deliberately laundering public treasury funds into the deep back pockets of shady construction companies, and happily providing heavily subsidized affordable housing to his ultra-rich, highly privileged, and politically connected friends.
Excessive Borrowing Without Accountability: Further Affirmation of Imprudent Governance.
President Bola Tinubu's administration has engaged in remarkably imprudent borrowing, escalating Nigeria's total debt to approximately N200 trillion. This represents an increase of over N100 trillion within a mere three years, a stark contrast to the roughly N49 trillion accumulated during President Muhammadu Buhari's eight-year tenure, which would have projected to around N80 trillion. As millions of Nigerians grapple with the shock of this unsustainable debt accumulation, the situation is exacerbated by the government's reckless approach to borrowing and a profound absence of accountability and transparency in the utilisation of these funds.
For instance, data from the Federation's Budget Office reveals that the Bola Tinubu government borrowed N11.89 trillion in the first three quarters of 2025 (January to September), exceeding the planned borrowing target of N10.34 trillion by approximately N1.54 trillion. Under a responsible and accountable government, such an overshoot would necessitate rigorous scrutiny and explanation from relevant governmental bodies. Regrettably, this is not the reality under the current administration.
Compounding this issue, only N3.10 trillion of the borrowed funds was allocated to capital expenditure during the same January-September 2025 period. This constitutes a mere 17.66% of the N17.58 trillion earmarked for capital projects, leaving a deficit of roughly N14.48 trillion, or 82.34% of planned capital expenditure unfunded.
The most disturbing aspect of the financial management fiasco under Bola Tinubu is that there is no explanation or information regarding how the balance was utilised or deployed. The question that Nigerians are rightly asking and deserve an answer to is what happened to the balance? Was it deployed for recurrent expenditure/ consumption, for the entertainment of guests to Aso Rock or transferred to the Renewed Hope Agenda 2027 Election Campaign Fund? Nigerians deserve an answer on how our economy and resources are most unpatriotically managed.
A New and Productive Nigeria is POssible, and Nigeria will be OK!
-PO
This Unlimited data issues ehn, let’s understand the technical realities and get a good grasp of what the subject matter is all about.
MTN says, I have Fiber X for your homes and offices, 100 Mbps, 200 Mbps, 500 Mbps and more. You get to choose the speed you want. It's truly unlimited, and you can connect all your devices.
What is being sold to you on fiber is speed, not volume, so you can use as much as you can use.
However, on your mobile phone, the facility is mobile spectrum, which requires capped data so that millions of users can use the connecting cell towers, all at the same time.
In a nutshell:
Mobile data = Capped Data
Fiber X = Unlimited Usage.
If we are calling for a better service, let’s call for better service from all the networks in the country.
Yes, there is room for improvement, but according to physics, radio spectrum technology for mobiles cannot allow any service provider to offer infinite or unlimited mobile data.
Technically, what MTN CEO said is true👌🏽
Having understood this, you can then channel all your energy into an actual request that is actually possible to achieve.
Media Framing of Crime Along Ethnic Lines: Divisive.
As an Igbo man, I have endured stereotypes, judgment, and labelling solely based on my ethnic origins. This is not an isolated Igbo experience. Most Nigerians have, at some point, been reduced to their ethnicity rather than recognised for their true character.
I understand the pain of the ordinary Fulani man today, often unfairly judged by the actions of criminals he does not support, has never met, and who are not representative of his people.
Even in America, such unjust labelling fueled the civil rights movement and prompted Martin Luther King Jr. to declare that people should be judged by the content of their character, not the colour of their skin.
Every Nigerian ethnic group is known for its unique traditions, occupations, skills, and strengths. Crime, however, has no ethnicity. A thief is a thief. A terrorist is a terrorist. A kidnapper is a kidnapper. They are bad actors, not representatives of any people. They must be identified, arrested, and punished according to the law.
We must decisively abandon the dangerous practice of blaming entire ethnic groups for the actions of a few criminals. It is unjust, it breeds hatred, and it damages our national unity.
Let us proudly celebrate our diverse cultures, talents, and contributions, rather than falling prey to stereotypes and prejudices that politicians and divisive interests exploit for their gain.
A new Nigeria must emerge—one where no citizen is condemned because of tribe, religion, or birthplace. We can cherish our cultural roots while standing united by justice, mutual respect, and hope for a better future. We are capable of this.
A new Nigeria is within our reach. -PO
Whilst I understand people’s reservations/objections regarding Jola’s comments.
People using this as a rebuttal are unserious please.
1. These people weren’t posting or following each other on socials for the longest time. Relationship was on an IYKYK level. Nobody was “quick to claim anybody.”
2. He literally did not convert his page to a couple’s content page ?? His page is still very much his football things and she’s doing her thing too.
It’s not making your point, unfortunately.
Michael Ndukwe, GM, Network at MTN Nigeria, breaks down what really drains your data and why your social media habits may be costing you more data than you think.
Governor go post with a $100k watch while their state has zero hospitals with 24/7 electricity. But fools go dey talk, ‘You expect make he wear G-Shock?’
Isn’t it funny that right at the time when jihad terrorists began to use violence, kidnappings, and terror to reportedly demand Sharia, the “moderate” ones immediately emerged to follow it up with a polite, diplomatic PR campaign for the exact same demand?.
The Nigerian Police Force have rescued Adelabu's kidnapped family under 72H.
Under 3days.
46 children and their teachers, are still in captivity after 3 weeks.
If the entire workforce in Oyo state isn't occupying the streets next week - all of you are fools.