Atiku Abubakar Critiques Tinubu's Fiscal Management

On Wednesday, Atiku Abubakar, the former vice president and presidential candidate of the African Democratic Congress, accused President Bola Tinubu’s administration of fiscal mismanagement. He stated that the Federal Government borrowed ₦4.79tn above the National Assembly's approved limit for the 2024 fiscal year, bringing total new borrowing to ₦12.62tn.

Atiku described this as a pattern of "fiscal recklessness, opacity and waste." He criticized the government's economic policies, claiming they failed to stabilize finances despite promises that the removal of fuel subsidies and increased taxation would reduce borrowing. Atiku highlighted that the government borrowed 61.2% more than authorized and questioned an additional ₦3.19tn obtained as "budget support" without legislative approval.

He accused the administration of duplicating budgets and mismanaging funds while failing to improve critical sectors like education and healthcare. Atiku also noted that increased oil revenues of ₦7.98tn should have lessened borrowing needs, indicating mismanagement rather than a lack of revenue.