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Peter Obi Raises Alarm Over Nigeria’s Growing Debt Crisis

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Former Anambra State Governor and 2023 presidential candidate, Peter Obi , has once again voiced deep concern over Nigeria’s mounting national debt, warning that the country is edging dangerously toward a financial cliff . Obi, known for his consistent advocacy for transparency and fiscal responsibility, criticized the recent approval of massive foreign loans by the National Assembly—reportedly amounting to over $21 billion , €2.2 billion , and ¥15 billion . He emphasized that the current debt trend under the Tinubu administration is unsustainable and could leave future generations burdened with unpayable obligations. According to Obi, Nigeria’s debt has ballooned from ₦12.6 trillion in 2015 to a staggering ₦149 trillion in 2025 , a growth rate he described as "disturbing and reckless." He questioned the country’s borrowing culture, especially when there is little to show in terms of infrastructure, job creation, or improved living standards. “The government must stop li...
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Nigeria Now Importing More Oil from the U.S. Than It Exports — A Historic Shift in Global Oil Trade

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In a surprising twist that has caught the attention of global energy analysts, the United States has, for the first time in history, become a net exporter of crude oil to Nigeria. This means that in the early part of 2025—particularly between February and March—the U.S. sold more crude oil to Nigeria than it purchased from Africa's largest oil producer.

According to data released by the U.S. Energy Information Administration (EIA), this development marks a significant turning point in the oil trade relationship between both nations and underscores deep-rooted challenges in Nigeria’s oil and refining sectors.

🛢️ Why Is Nigeria Importing Crude?

Despite being one of the world’s top crude oil producers, Nigeria is heavily reliant on fuel imports due to inadequate refining capacity at home. While the launch of the massive Dangote Refinery brought hope to millions, the facility has yet to operate at full capacity. This delay has forced Nigeria to keep importing petroleum products, including crude, to meet local demands.

Meanwhile, refineries in the U.S. East Coast experienced routine maintenance earlier this year. With excess crude in the U.S. market and shifting global demands, American suppliers found new buyers—including Nigeria.

🇳🇬 What Does This Say About Nigeria's Oil Industry?

The fact that Nigeria—a nation rich in oil—is now importing more crude than it exports to certain countries is a sobering reality. The situation highlights serious gaps in Nigeria’s energy management, particularly in refining and infrastructure.

Crude theft, pipeline vandalism, policy inconsistency, and underinvestment have all crippled local production. These issues have not only reduced output but have also made the country increasingly dependent on imported energy.

⏳ A Wake-Up Call

This unprecedented situation should serve as a wake-up call to Nigeria’s government and policymakers. For a country blessed with abundant oil reserves, importing crude oil is both economically and strategically alarming.

There is an urgent need to invest in refinery upgrades, protect critical infrastructure, and develop long-term policies that will restore Nigeria’s position as a true oil giant.

Until then, the reality remains: Nigeria is now importing oil from the United States—a headline that would have seemed unthinkable just a few years ago.


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