Atiku Demands Tinubu Explain N166.79tn Debt Before New World Bank Loan

Atiku Abubakar, the African Democratic Congress presidential candidate and former Vice President, has demanded that President Bola Ahmed Tinubu present a comprehensive accounting of Nigeria's existing debt liabilities before the Federal Government moves forward with its proposed $1.5 billion World Bank borrowing. Through a statement released Monday, Phrank Shaibu—Director of Strategic Communications for the ADC Presidential Campaign Council—conveyed this challenge on Atiku's behalf.

As of June 30, 2026, Nigeria's overall public debt reached ₦166.79 trillion, per figures from the Debt Management Office. Atiku's critique focuses on what he sees as relentless borrowing coupled with insufficient disclosure about how funds from earlier loans have been utilized or what tangible benefits Nigerians have received.

He connected this concern to widespread economic strain afflicting the population, particularly regarding escalating expenses for electricity, fuel, and food. The World Bank's proposed financing package consists of three distinct $500 million facilities aimed at social protection schemes, climate resilience work, and early childhood development initiatives, based on documentation from the World Bank.

Before soliciting further resources from international sources, Atiku insists that the administration must establish clear responsibility regarding monies previously obtained in Nigeria's name. The former Vice President depicted the scenario as one whereby the Federal Government simultaneously exacts ongoing demands for sacrifice from its citizens while seeking new funds from abroad.

His public remarks represent continued opposition to how the Tinubu administration is managing the country's borrowing practices and debt levels—concerns that have repeatedly surfaced within discussions about the nation's financial stewardship.