BY EDMOND ODOK – Former Vice President and African Democratic Congress (ADC) presidential candidate for the 2027 general elections, Atiku Abubakar has delivered a blistering critique against President Bola Tinubu, accusing the administration of demanding endless economic sacrifices from struggling citizens while continuously sinking the nation deeper into foreign debt.
Atiku’s rebuke follows the government’s latest push for a $1.5 billion World Bank loan, a move that comes as Nigeria’s staggering public debt mountain reaches a unprecedented ₦166.79 trillion.
In a strong statement released by his campaign’s strategic communications director, Phrank Shaibu, Atiku demanded a full forensic accounting of all previously borrowed funds, calling the administration’s fiscal record a damning indictment of Tinubu’s economic stewardship.
Taking President Tinubu to the cleaners for lack of accountability and transparency in accounting for the funds already borrowed, Atiku said, “Families are struggling to afford food, fuel and electricity, yet the debt continues to climb. Nigerians were promised that painful policies would free resources for development. They have felt the pain. Where is the development?”
“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. Tinubu has made today difficult and tomorrow more uncertain. He cannot keep loading debt onto the country and expect Nigerians to applaud programme titles. What has this government built? Who has benefited? Why should Nigerians trust him with another term in office?”
“The proposed $500 million facilities for climate resilience, social protection and early childhood development address real need. But worthy programme names cannot stand in for a public account of how previous loans were spent or a clear plan for delivering measurable results.
“Before these loans are concluded, the government must publish the projects to be funded, the communities and citizens expected to benefit, the targets for each programme, the terms of borrowing and disbursement, and a timetable Nigerians can use to track delivery.
“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.”
Further challenging the government to reconcile its appetite for borrowing with its repeated claims of higher revenue and savings from petrol subsidy removal, the statement said: “If more money is coming in, why does the debt keep climbing? If Nigerians have sacrificed so much, where are the results? A government cannot keep announcing savings, signing loans and asking the same struggling families to wait for relief.”
The former Vice President maintained that the true test for President Tinubu and the All Progressives Congress (APC)-led administration has shifted from rhetoric to reality, adding that it is no longer a question of how many multi-billion Naira projects the government can launch, but whether Nigerians can feel, use, and independently verify those promises in their daily lives.
According to the ADC Standard flag-bearer, the President must “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” on behalf of economy-wearied Nigerians.
