President Bola Ahmed Tinubu, on Thursday, presided over the Federal Executive Council (FEC) meeting at the State House in Abuja.

The meeting was physically attended by Vice President Kashim Shettima, Ministers and other FEC members.

Meanwhile, former Labour Party presidential candidate Peter Obi has called out the administration of President Bola Tinubu over rising public debt and loan borrowings by the government.

Obi, in a statement on Thursday, noted that countries should not borrow recklessly without a clear path to repayment through productive investment.

He, however, lamented that most of the borrowings by the Tinubu administration do not satisfy the requirements of law or the requirements of economic common sense.

The former governor of Anambra State made the submission against the recent declaration by President Tinubu that debt is not leprosy.

However, Obi submitted that borrowing can both be a leprosy and a killer cancer if not done for the right reasons and properly managed.

He expressed concerns that Nigeria is borrowing for consumption and not production.

The African Democratic Congress (ADC) chieftain charged the Tinubu government to ensure borrowings work for the Nigerian people and not just defend or justify its borrowings.