Atiku Faults FG’s Plan to Obtain Vienna-listed Bond Amid Rising Debt
• Demands transparency in government spending, borrowing Chuks Okocha in Abuja Former Vice President Atiku Abubakar has described the proposed Vienna-listed bond arrangement as another disturbing sign of a government
Former Vice President Atiku Abubakar has criticized the Nigerian government's plan to obtain a Vienna-listed bond, arguing that it highlights the government's increasing appetite for borrowing. Atiku questioned why the government is seeking more financing without first explaining why record revenues, subsidy savings, and higher crude oil prices have not reduced its dependence on debt.
He pointed out the contradiction between the government's claims of rising revenues, subsidy removal savings, and improved oil prices, while factories are struggling under high energy costs. Atiku emphasized that if the government's revenues have increased, oil prices are above projections, and subsidy savings are substantial, Nigerians deserve a transparent explanation of where the money has gone and why more borrowing is necessary.
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