Atiku Abubakar Questions Tinubu on $1.5bn World Bank Loan

Atiku Abubakar, the African Democratic Congress presidential candidate, has called on President Bola Tinubu to provide an account of Nigeria's existing debt before the Federal Government moves forward with a proposed $1.5bn loan from the World Bank. This proposal includes three financing facilities of $500m each for climate resilience, social protection, and early childhood development.

As of June 30, 2026, Nigeria's total public debt reached ₦166.79tn, an increase of ₦14.39tn from the previous year. Atiku emphasized the need for the government to demonstrate how previously borrowed funds were utilized and the benefits they delivered to the populace.

He questioned the government's claims of increased revenue against the backdrop of rising debt, demanding that details of the proposed projects, beneficiaries, and timelines be made public. The World Bank plans to consider the financing facilities on October 29, 2026, and March 2027 for the respective projects.