Atiku Abubakar Critiques Tinubu's $1.25bn Loan Plan

Former Vice President Atiku Abubakar has criticized President Bola Tinubu's administration for negotiating a fresh $1.25 billion loan from the World Bank. In a statement issued on Sunday by his media aide Olusola Sanni, Atiku warned that Nigeria risks sinking deeper into unsustainable debt without tangible benefits for its citizens.

He described the Tinubu administration's reliance on borrowing as reckless, especially amid worsening economic hardships, including rising inflation and energy costs. Atiku expressed concern over the government's failure to fulfill its electoral promises of economic revival, arguing that the current borrowing practices are reminiscent of past debt crises.

He urged the World Bank to impose stricter compliance and transparency requirements on future loans to Nigeria, citing the country's high exposure to debt. Atiku also referenced the successful debt relief negotiations led by former President Olusegun Obasanjo in the mid-2000s, contrasting them with the current administration's approach, which he claims lacks fiscal discipline and effective economic management.