Tinubu Addicted to Loans – Atiku Tackles Presidency Over Fresh Request to Borrow $24.14bn

Former Vice President, Atiku Abubakar has stated that President Bola Tinubu is addicted to foreign loans.

He spoke after Tinubu-led administration requested for about $24.14 billion foreign loans.

Recall that President Tinubu had earlier this week requested the National Assembly’s approval for some foreign loans

The request, however, triggered outrage amongst stakeholders, who lamented that the loan if approved, may balloon Nigeria’s debt to N183 trillion.

Atiku, in reaction to the development, said on Thursday, in a statement that the announcement by the All Progressives Congress, APC-led government to pursue fresh loans “is a reckless and dangerous move that threatens the future of Nigeria and generations yet unborn”.

According to Atiku, the “move comes while Nigeria’s debt burden is already at alarming levels.

“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 APC took over power in 2015, “public debt has ballooned by 1,048%, from ₦12.6 trillion to ₦144.7tr”.

He called for the immediate suspension of further borrowing by the present administration.