Atiku Abubakar Questions N24.7trn Borrowing Amid Oil Surge

Former Vice President Atiku Abubakar expressed concerns about the Federal Government's domestic borrowing, which reached N24.7 trillion between January and August 2026, a 90.5% increase from N12.98 trillion in the same period in 2025. He noted that this borrowing trend could limit credit available to Nigerian businesses, especially as oil prices have risen above the budgeted benchmark of $64.85 per barrel.

Atiku, through his Senior Special Assistant on Public Communication, Phrank Shaibu, highlighted that despite increased revenues from oil and the removal of fuel subsidies, government borrowing continues to rise. He pointed out that credit to government grew by 43%, while credit to the private sector only grew by 9.6%.

Atiku emphasized the importance of affordable credit for economic growth and called for a transparent account of how increased revenues are being utilized. He proposed that an ADC administration would prioritize fiscal discipline and reduce reliance on domestic borrowing.