Former Vice President Atiku Abubakar has criticized President Bola Tinubu’s administration for attempting to secure a fresh $1.5 billion World Bank loan while Nigerians face severe economic hardship.
Atiku is demanding for the President to give a full account for previous borrowings before piling more debt on the country.
In a statement released by Phrank Shaibu, a director in his presidential campaign council, Atiku questioned why the government keeps on accumulating heavy debts if it is truly saving from the removal of petrol subsidies and generating higher revenues.
“If more money is coming in, why does the debt keep climbing?…If Nigerians have sacrificed so much, where are the results?”, Atiku
He added that the nation’s debt burden is growing at an alarming rate. According to him, if the total public debt of Nigeria were divided equally among its citizens, every single person’s share would be ₦716,822 which three years ago, was ₦383,442.
Atiku also stated that catchy program titles are not enough to justify more borrowing. He demanded that before any new loan is signed, the government must publish a clear breakdown of the specific projects to be funded, the exact communities that will benefit, and a strict timetable for delivery.
Atiku challenged the Tinubu administration to stop asking struggling families to wait for relief while racking up more debt. He urged the president to show Nigerians verifiable results of what previous loans have actually built before taking another loan.
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