Former Vice President Atiku Abubakar has urged President Bola Tinubu to account for Nigeria’s existing public debt before seeking an additional $1.5 billion loan from the World Bank.
In a statement issued by Phrank Shaibu, Director of Strategic Communications for his presidential campaign council, Atiku criticized the administration for imposing continuous economic hardships on citizens while consistently accumulating new borrowings, noting that public debt has now reached N166.79 trillion.
The former Vice President argued that the administration must justify how previous loans were utilized and present a transparent, verifiable plan for any new borrowing.
He challenged the government to disclose the specific projects, targeted communities, borrowing terms, and disbursement timelines for the proposed facilities, while questioning why debt levels continue to soar despite reported savings from the removal of fuel subsidies.