Former Vice President Atiku Abubakar criticizes President Bola Tinubu’s plan to raise additional bonds to settle legacy debts in Nigeria’s power sector. In statements issued on Sunday through his spokesperson, Phrank Shaibu, Atiku argues the proposal shows fiscal recklessness and a lack of public accountability. The criticism follows Tinubu’s Democracy Day message, in which the administration said it intends to raise a bond in the region of N4 trillion to address power sector debt. Atiku also points to what he describes as unresolved questions about earlier debt-clearing bonds, saying previous efforts remain insufficiently explained. Vanguard additionally reports that Atiku demands full disclosure regarding the new borrowing, describing it as institutional dishonesty and contempt for public accountability. Across the reports, Atiku frames the repeated use of borrowing to address the same problem as problematic, saying the government should account for funds raised for previous debt settlement measures before announcing another round. The outlets also cite Atiku’s argument that Democracy Day messaging on accountability should be matched by transparency over prior bond proceeds.
Atiku criticizes Tinubu’s proposed power-sector bond to settle legacy debts
Former Vice President Atiku Abubakar criticizes President Bola Tinubu’s plan to raise additional bonds to settle legacy debts in Nigeria’s power sector. In statements issued on Sunday through his spok...
- Atiku Abubakar criticizes the Tinubu administration’s plan to issue another bond to settle Nigeria’s power sector legacy debts.
- The proposal is linked to Tinubu’s Democracy Day message, which mentions raising a bond around N4 trillion.
- Atiku says the government has not sufficiently explained what happened to money from previous debt-clearing bonds.
- Atiku’s position is conveyed in statements issued on Sunday by his spokesperson, Phrank Shaibu.
- Vanguard reports Atiku demands full disclosure and characterizes the plan as fiscal recklessness and dishonesty.
Former Vice President Atiku Abubakar has faulted the President Bola Ahmed Tinubu-led Federal Government’s latest plan to raise another bond to settle debts in the power sector. Atiku described the plan as a scandalous display of fiscal recklessness. He disclosed this in a statement issued on Sunday by his spokesperson, Phrank Shaibu. Recall that President Tinubu, in his Democracy Day message, said his administration plans to raise a N4 trillion bond to tackle legacy power sector debt. Reacting, Atiku noted that Nigerians have every right to be outraged by what is fast becoming a recurring cycle of borrowing, deception, and non-disclosure under the Tinubu administration. According to him, no government acting in good faith can repeatedly raise funds to solve the same problem while refusing to account for previous funds raised for the very same purpose. “Yet, before the applause from that announcement could die down, Nigerians were confronted with the uncomfortable reality that previous debt-clearing bonds remain shrouded in unanswered questions. Democracy is not sustained by grand declarations; it is sustained by accountability. A government cannot celebrate a new solution while refusing to explain the fate of the old one. The irony is striking: on a day set aside to honour democratic accountability, Nigerians were presented with yet another borrowing proposal for the same problem that previous borrowings supposedly addressed. “This raises a simple question that the Tinubu administration appears unwilling to answer: What happened to the money? “The Nigerian people are counting, and what they are seeing does not add up. “There is a name for repeatedly collecting money to solve the same problem while the problem remains unsolved. It is called a ‘racket’,” Atiku stated.
11 hours agoFormer Vice President Atiku Abubakar has faulted the President Bola Ahmed Tinubu-led Federal Government’s latest plan to raise another bond to settle debts in the power sector. Atiku described the plan as a scandalous display of fiscal recklessness. He disclosed this in a statement issued on Sunday by his spokesperson, Phrank Shaibu. Recall that President […] Electricity: Tinubu’s plan to raise N4tn power sector bond racket – Atiku
11 hours agoBy Omeiza Ajayi ABUJA: Presidential Candidate of the African Democratic Congress ADC, Atiku Abubakar has described President Bola Tinubu’s plan to raise another bond to settle power sector debts as a display of fiscal recklessness, institutional dishonesty, and contempt for public accountability. The former vice president, in a statement on Sunday by his Senior Special […] The post Atiku tackles Tinubu over fresh N3.3trn power debt bond, demands full disclosure appeared first on Vanguard News.
13 hours ago
Trump nominates acting Attorney General Todd Blanche for permanent attorney general role
President Trump nominates Todd Blanche to serve as permanent attorney general, elevating him from his current acting rol...
Starmer to announce social media restrictions for UK children, with an under-16s ban expected
UK Prime Minister Keir Starmer is preparing to announce a set of social media restrictions for children, with multiple r...
Trump attends G7 in France after US-Iran memorandum announced on eve of summit
President Donald Trump travels to France for the 52nd G7 summit after the United States and Iran announce a memorandum o...