Atiku Critiques Senate's Quick Approval of $6 Billion Loan

Atiku Abubakar, the former Vice President of Nigeria, condemned the rapid approval of President Bola Tinubu's $6 billion external loan request by the Nigerian Senate, which occurred in less than four hours. In a statement issued on Tuesday by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku expressed concern over the lack of proper scrutiny and debate surrounding such a high-stakes financial decision.

He warned that this process undermines legislative oversight and poses a threat to the country's economic stability. Atiku highlighted Nigeria's growing dependence on borrowing, noting the country's exposure to the World Bank's International Development Association, which stands at $18.7 billion as of February 2026.

He emphasized that while borrowing is not inherently wrong, reckless borrowing could lead to complacency among legislators. Atiku urged the Senate to resume its constitutional role in checking executive excesses rather than acting as a rubber stamp for such requests.