LOAN: Show Us The Money Already Received, Show Us What It Built, Show Us Who Benefited – Atiku Challenges Tinubu
According to a report by Punch on Monday, September 28, 2026, African Democratic Congress presidential candidate Atiku Abubakar has called on President Bola Ahmed Tinubu’s administration to provide an account of Nigeria’s existing debt before proceeding with proposed new borrowing of $1.5 billion from the World Bank.
The former vice president’s position followed reports that the Federal Government is considering three separate financing facilities worth $500 million each. The proposed facilities are intended to support climate resilience, social protection and early childhood development programmes.
The call comes as Nigeria’s total public debt stood at N166.79 trillion as of June 30, 2026, according to figures from the Debt Management Office. The amount represents an increase of N14.39 trillion from the N152.40 trillion recorded in June 2025.
In a statement issued by his Director of Strategic Communications, Phrank Shaibu, Atiku questioned the government’s decision to seek additional borrowing without first providing Nigerians with detailed information about the utilisation and impact of funds previously obtained.
He also questioned the continued rise in public debt against the backdrop of government claims concerning increased revenue and savings associated with the removal of the petrol subsidy.
The proposed World Bank financing remains at different stages of consideration and has not been fully disbursed. The most advanced facility is an additional $500 million for the Agro-Climatic Resilience in Semi-Arid Landscapes project, known as ACReSAL.
The World Bank is scheduled to consider the facility on October 29, 2026. If approved, it would raise the project’s total financing from $700 million to $1.2 billion.
Two other proposed $500 million facilities are focused on early childhood development and household prosperity and social protection, with consideration currently projected for March 2027.
While acknowledging the importance of such development programmes, Atiku argued that their objectives should not replace the need for transparency over existing loans.
He said, “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.”
COURTESY: Bgirlz
