Suspend further borrowing – Atiku laments as Tinubu requests Loan of $24.14 billion
Former Vice President Atiku Abubakar has openly criticized President Bola Tinubu’s administration regarding its request for approximately $24.14 billion in foreign loans.
This week, President Tinubu sought the National Assembly’s approval for these loans, a request that has sparked significant outrage among stakeholders. Critics fear that if approved, this loan could inflate Nigeria’s debt to an staggering N183 trillion.
Reacting to the development on Thursday, Atiku issued a statement calling the All Progressives Congress (APC)-led government’s pursuit of new loans “a reckless and dangerous move that threatens the future of Nigeria and generations yet unborn.”
According to Atiku, this “move comes while Nigeria’s debt burden is already at alarming levels.”
He highlighted that “As of December 31, 2024, public debt stood at $94 billion, ₦144.7 trillion. Since President Tinubu assumed office in 2023, public debt has jumped by 65.6%.”
Atiku lamented that since the APC took power in 2015, “public debt has ballooned by 1,048%, from ₦12.6 trillion to ₦144.7tr.” He concluded by calling for “the immediate suspension of further borrowing by the present administration.”
