Atiku Challenges Tinubu Over New $1.5B World Bank Loan
- Atiku Abubakar accused President Tinubu of seeking a fresh $1.5bn World Bank loan while Nigeria's public debt already stands at ₦166.79 trillion
- The former vice president said each Nigerian now carries a debt share of ₦716,822, up 87% from ₦383,442 just three years ago
- Atiku called on the Tinubu administration to publish details of how previous loans were spent before any new borrowing is concluded
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FCT, Abuja - The ADC presidential aide, Atiku Abubakar, has demanded that President Bola Tinubu publicly account for all funds borrowed on behalf of Nigeria before his administration proceeds with a proposed $1.5 billion facility from the World Bank.
The former Vice President said Nigeria's public debt currently sits at ₦166.79 trillion, and the Tinubu administration is seeking an additional $1.5 billion from the World Bank.
Source: Facebook
Atiku said the loan is spread across three facilities targeting climate resilience, social protection, and early childhood development.
He made the demand in a statement issued and made available to Legit.ng on Monday, September 28, 2026, by Phrank Shaibu, Director of Strategic Communications of the ADC Presidential Campaign Council.
Atiku raises alarm over rising debt.
The former vice president said the figures tell a troubling story. "If Nigeria's public debt were divided among everyone, each person's share would be ₦716,822 today. Three years ago, it was ₦383,442. That is an 87 per cent increase," he said.
Atiku argued that Nigerians had endured painful economic policies on the promise that the hardship would create room for growth and development, but there was little to show for it.
"Nigerians were promised that painful policies would free resources for development. They have felt the pain. Where is the development?" he asked.
He also challenged Tinubu to explain why debt keeps rising despite the government's repeated claims of increased revenue and savings from the removal of the petrol subsidy.
"If more money is coming in, why does the debt keep climbing? If Nigerians have sacrificed so much, where are the results?" Atiku said.
Atiku sets conditions for new borrowing
While Atiku acknowledged that the programmes targeted by the proposed loans address genuine needs, he said worthy labels on government projects are not a substitute for transparency and results.
He called on the government to publish the specific projects to be funded, the communities and individuals expected to benefit, the terms and disbursement plans for each facility, and a delivery timetable that Nigerians can independently monitor.
"Climate resilience must mean identifiable land restored, irrigation delivered and communities protected from flooding. Social protection must identify who receives support and when. Early childhood development must produce measurable gains in nutrition, healthcare and learning," he said.
Atiku warned that the administration could not continue announcing savings, signing new loans, and asking struggling families to keep waiting.
"Show us the money already received. Show us what it built. Show us who benefited. Account for the debt already on Nigeria's books before borrowing another dollar," he said.
He added that the fundamental question facing Tinubu was no longer how many development programmes his government could name, but what Nigerians could actually see, use, and verify for themselves.
Source: UGC
Atiku tackles Tinubu over N70,000 minimum wage.
Meanwhile, Legit.ng reported that Atiku called for a substantial increase to Nigeria's N70,000 minimum wage, saying it has failed to restore workers' purchasing power.
The ADC presidential candidate compared Nigeria's wage to those of Libya, Algeria, Gabon and other African countries, all of which he said were higher.
Atiku pledged to begin raising the wage floor from his first day in office and outlined plans for a targeted production subsidy on locally refined petrol.
Source: Legit.ng
