Former Vice President Atiku Abubakar has accused President Bola Tinubu’s government of excessive borrowing, warning that it endangers Nigeria’s future.
In a post on X, Atiku described the fresh loan request sent to the National Assembly as “economic sabotage.” Tinubu is seeking approval to borrow $21.5bn, €2.19bn, ¥15bn, and a €65m grant under a new 2025–2026 borrowing plan.
Atiku said Nigeria’s total public debt could hit ₦183tn if the request is granted, up from ₦144.7tn in December 2024. “Since Tinubu assumed office, public debt has jumped by 65%. Under APC since 2015, debt has grown over 1,000%,” he said.
He accused the administration of borrowing mainly to repay existing debts, not to fund development, warning that this “vicious cycle” leaves little for key sectors like health, education, and infrastructure.
He called on lawmakers, civil society, media, and the international community to stop the loan plan, saying, “This is not just unsustainable—it’s immoral.”
