Atiku Demands Accountability Before Fresh $1.5bn Loan

Former Vice President Atiku Abubakar has asked President Bola Tinubu to account for Nigeria’s existing public debt before seeking a fresh $1.5 billion loan from the World Bank.

Atiku, who is now the presidential hopeful of the African Democratic Congress (ADC), said Nigeria’s debt stock has reached N166.79 trillion, while Nigerians continue to struggle with the high costs of food, fuel and electricity.

His position was conveyed by Phrank Shaibu, Director of Strategic Communications of the ADC Presidential Campaign Council.

According to him, if the total debt were shared among citizens, each Nigerian would owe N716,822, up from N383,442 three years ago, representing an 87 per cent increase.

“Nigerians were promised that painful policies would free resources for development. They have felt the pain.

Where is the development?” he asked.
While acknowledging that the proposed $500 million each for climate resilience, social protection and early childhood development address real needs, Atiku said the government must publish details of the projects, beneficiaries, targets, loan terms and delivery timelines.

He insisted that climate resilience must translate to restored lands and flood protection, while social protection should clearly show who receives support and when. He also said early childhood projects must deliver measurable gains in nutrition, healthcare and learning.
He also questioned why the country’s debt keeps rising despite claims of increased revenue and savings from fuel subsidy removal.

“If more money is coming in, why does debt keep climbing? If Nigerians have sacrificed so much, where are results? Show us the money already received. Show us what it built. Show us who benefited,” Atiku said.