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BREAKING: N192Million For One Borehole: No Single Borehole Should Cost More Than N10 Million — Peter Obi

Peter Obi, the presidential candidate of the Labour Party for 2023, has expressed concerns with the N192 million approved cost of digging a single borehole by the Nigerian Senate. Obi expressed doubts about the outrageous sums allotted for borehole projects, stating unequivocally that no borehole ought to cost more than N10 million.

During an online X Space event titled “Citizens Engagement with Peter Obi on #PeterobiOnParallelFacts,” he said this.

“I don’t think digging any single borehole will cost more than N10 million,” Obi said, emphasising how shocked he was.

He went on, “Anybody building a single borehole for N190 million has to be building a special borehole.”

Obi’s comments coincide with information that the Nigerian government has allocated a sizable portion of its budget to borehole projects. Notably, the Nigerian Senate recently approved a N82.5 billion budget, or about N193 million per borehole, for the building of 427 boreholes.

The discrepancy between the government’s budgeted allotments and Obi’s estimate of the expenditures associated with drilling boreholes has sparked debates over accountability and transparency in Bola Tinubu’s administration.