African Democratic Congress (ADC) presidential candidate Atiku Abubakar urges President Bola Tinubu to account for Nigeria’s existing public debt before seeking a new $1.5 billion package from the World Bank. The claim centers on Nigeria’s public debt of ₦166.79 trillion, which Atiku says the government has not adequately explained or managed.
Across reports, Atiku argues that the Tinubu administration is asking Nigerians to absorb economic hardship while pursuing additional borrowing. He also questions whether earlier loans produced measurable development outcomes, pointing to rising debt and the cost of living, including access to essentials such as food, fuel and electricity. In one cited line, Atiku asks, “Where are the results?”
Sources also note that Atiku supports the stated objectives of the proposed World Bank funding—linked to climate resilience, social protection and early childhood development—but says the government should first publish details of past loan use and the plan for new funds. He calls for disclosure of projects, intended beneficiaries, targets, borrowing/disbursement terms, and timelines for public tracking, along with an explanation of how debt growth aligns with claims of revenue gains and savings from petrol subsidy removal.
