Summary:

On 17 February 2026, the Municipal Council of Benghazi issued a statement criticizing remarks by Abdel-Hamid Dbeibah, head of Libya’s Tripoli-based Government of National Unity (GNU), during the 15th anniversary of the 17 February revolution.  

The council questioned reported public spending of over 500 billion Libyan dinars in the past five years, raising concerns about financial mismanagement, allocation of funds, and limited visible impact on citizens’ lives. It also highlighted issues with 2025 Central Bank of Libya credits, reportedly exceeding $26 billion, calling for greater transparency and oversight. 

Dbeibah responded that parallel spending over the past three years totaled more than 300 billion dinars, approved by the House of Representatives as public debt, and defended measures including exchange rate adjustments and development spending controls to protect citizens’ livelihoods. The council further emphasized that projects in eastern and southern Libya addressed long-standing gaps in services and infrastructure, linking some improvements in economic indicators to these regional initiatives. 

Outlook: 

The criticism from Benghazi’s Municipal Council comes at a sensitive moment for Libya’s energy sector, where the allocation of new oil licenses is central to attracting investment and boosting production.  

Political fragmentation, including the failed initiative for a unified government and divided authority between eastern and western Libya, could slow licensing processes, undermine investor confidence, and complicate cooperation with international partners. 

The GNU’s ability to ensure transparent management of these licenses and coordinate across rival factions will be critical to sustaining investment flows and maintaining momentum in the oil sector. 

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