Former Vice President Atiku Abubakar has strongly criticized the Federal Government’s reported talks with the World Bank to secure an additional $1.25 billion loan. In a statement released by his media aide, Olusola Sanni, Atiku described the move as alarming economic sabotage, underscoring the administration’s dangerous reliance on borrowing.
The announcement comes at a time when Nigeria’s national debt has already hit N159 trillion as of December 2025, sparking widespread concerns. President Bola Ahmed Tinubu reportedly obtained approval for the new loan, which has triggered backlash from citizens and opposition figures alike.
Atiku warned that if finalized, this loan would be among the largest fresh debts taken on by the current government. He argued that it is troubling and unacceptable for an administration that pledged economic revival to instead become known for massive borrowing, while Nigerians see no tangible improvement in their living conditions.
“This borrowing spree is reckless, opaque, and becoming a dangerous habit. These loans impose a crushing burden on Nigerians. We were promised better infrastructure, power, and economic recovery, but ordinary people still face darkness, deadly roads, collapsing businesses due to high energy costs, and a national hunger crisis,” Atiku stated.
He called on the World Bank and other creditors to enforce stricter compliance with loan terms and conditions. Additionally, Atiku demanded that President Tinubu’s government provide a comprehensive breakdown of all loans taken since taking office, including their terms, disbursement status, and concrete outcomes for each project.
The criticism highlights growing frustration over Nigeria’s mounting debt and the lack of visible development, with many questioning the sustainability of the current borrowing strategy.