The presidential candidate of the African Democratic Congress (ADC), Mr. Peter Obi, has hit back at critics who label him as “stingy,” providing a rare and detailed breakdown of how he chooses to spend his wealth on human development rather than political patronage.
Speaking at a high-level engagement with the Hausa/Fulani Abuja Chiefs on Wednesday, February 18, 2026, Obi addressed the long-standing narrative that he “doesn’t spend money,” arguing that his philosophy of wealth is rooted in empowerment rather than “stomach infrastructure.”
The Balogun Market Legacy
Obi pointed to his track record in Lagos as a testament to his silent philanthropy. He revealed that years ago, he funded the construction of approximately 100 stores at the Balogun Market within the Trade Fair complex in Lagos, but notably refused to retain ownership of a single one.
“I use my money for what it is meant for,” Obi declared. “If you go to Balogun market, they will tell you Peter Obi built about 100 stores, but I don’t own one. I gave them out to young men to do their best. Those stores cost ₦250,000 at the time; today, you cannot buy them for less than ₦50 million. That is an investment in people.”
₦150 Million for Nursing Education
Turning to the healthcare sector, Obi disclosed a massive financial commitment to a School of Nursing in Nsukka, Enugu State—a project he said was non-existent before his intervention.
Total Commitment: Obi revealed he is supporting the school with over ₦150 million.
Recent Funding: He confirmed he released ₦70 million to the institution just two weeks ago to accelerate development.
The Philosophy: “For me, that is what money is meant for,” he insisted. “My name is Peter Obi. If you call me ‘Okwute’ (The Rock) and expect a handout, that is your business. I am not going to give you money for praise-singing.”
“The Stingy Man or the Visionary?”—Nigerians React
The “Okwute” philosophy has once again ignited a fierce debate among Nigerians, especially as the 2027 election cycle begins to take shape.
“The Discipline We Need”: Supporters on social media have hailed Obi’s approach as the blueprint for fixing Nigeria. “We don’t need leaders who share ₦5,000 at rallies while hospitals are collapsing,” one popular commentator on X (formerly Twitter) noted. “We need leaders who build ₦50 million assets for the youth.”
“The Elitist Gap”: Critics, however, argue that Obi’s refusal to engage in traditional “political spending” makes him appear disconnected from the immediate hunger of the masses. “Empowerment is good, but people are starving now,” a resident in Abuja remarked. “You can’t tell a hungry man to wait for a nursing school to be built.” [11]
“Strategic Contrast”: Analysts suggest that by highlighting his ₦70 million donation to a school, Obi is drawing a sharp contrast with the ₦66 billion spent on luxury SUVs by the President Bola Tinubu administration. [14]
The “Okwute” Brand
As the ADC Mega Party coalition gains momentum, Obi’s “Rock” persona appears to be his primary weapon against the “spending” culture of the ruling APC. He maintains that while he may be “stingy” with public and personal funds toward frivolous ends, he remains the “most generous” when it comes to the future of the Nigerian child. [12]
As of Thursday morning, February 19, the Labour Party (his former platform) and the APC have not issued a formal rebuttal to his claims regarding the Balogun market stores.
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