Account For N166.79trn Debt Before Fresh $1.5bn Loan, Atiku Tells Tinubu
Former Vice President Atiku Abubakar has asked President Bola Tinubu to account for existing public debt before seeking a fresh $1.5 billion loan from the World Bank.
Atiku, now presidential hopeful of the African Democratic Congress (ADC), said Nigeria’s debt stock has hit N166.79 trillion, yet Nigerians continue to struggle with high costs of food, fuel and electricity.
His position was articulated by Phrank Shaibu, Director of Strategic Communications of the ADC Presidential Campaign Council.
According to him, if the total debt were shared among citizens, each Nigerian would owe N716,822, up from N383,442 three years ago – an 87% increase.
Nigerians were promised that painful policies would free resources for development. They have felt the pain. Where is the development?” he asked.
While noting that the proposed $500 million each for climate resilience, social protection and early childhood development address real needs, Atiku said government must publish details of projects, beneficiaries, targets, loan terms and delivery timelines.
He insisted that climate resilience must translate to restored lands and flood protection, social protection must show who gets support and when, while early childhood projects must deliver measurable gains in nutrition, healthcare and learning.
He also queried why debt keeps rising despite claims of higher revenue and savings from fuel subsidy removal.
“If more money is coming in, why does debt keep climbing? If Nigerians have sacrificed so much, where are results? Show us the money already received. Show us what it built. Show us who benefited,” Atiku said.
