Former Vice President Atiku Abubakar has criticised President Bola Tinubu over plans to secure a fresh $516 million loan, urging the administration to halt what he described as “reckless borrowing.”
Atiku’s remarks come amid concerns about Nigeria’s rising debt profile and the sustainability of continued external borrowing. He warned that accumulating more debt without clear repayment strategies could worsen the country’s economic challenges and place additional strain on future generations.
The former presidential candidate called on the government to prioritise fiscal discipline, improve revenue generation, and plug leakages in public finance rather than resorting to new loans.
The criticism adds to ongoing debates over the Federal Government’s borrowing plans, which officials say are necessary to fund critical infrastructure and support economic growth.
As of the time of reporting, the administration of President Tinubu has maintained that its borrowing strategy is within manageable limits and aligned with efforts to stabilise the economy.