Atiku: Why is appetite for borrowing increasing amid crude price surge?
Former Vice-President Atiku Abubakar has described the proposed Vienna-listed bond arrangement as another disturbing sign of a government that keeps expanding its appetite for borrowing while refusing to give Nigerians a clear account of what has happened to record revenues, subsidy savings and the windfall from higher crude oil prices. Atiku said it is indefensible […]
Former Vice-President Atiku Abubakar has raised concerns over the increasing appetite for borrowing by the Nigerian government, despite a surge in crude oil prices and record revenues. In a statement, Atiku criticized the proposed Vienna-listed bond arrangement as another sign of the government's expanding debt and refusal to provide a clear accounting of the funds.
He pointed out that while Nigerian manufacturers are struggling with high energy costs and expensive credit, the government continues to borrow more domestically, with first-eight-month borrowing in 2026 reaching ₦24.7 trillion, compared to ₦12.98 trillion in the same period of 2025. Atiku emphasized the need for transparency, demanding that the government explain how revenues have been spent and why additional debt is necessary, given the improved oil earnings and subsidy savings.
Written by urgent.news from Daily Trust's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
