Atiku faults FG over fresh $1.5bn World Bank loan

Atiku Abubakar, the presidential candidate of the African Democratic Congress, has called on President Bola Tinubu to explain Nigeria's existing debt before seeking a $1.5 billion loan from the World Bank. This demand comes as the Bank has proposed three financing facilities totaling $1.5 billion, aimed at addressing climate resilience, social protection, and early childhood development.

Nigeria's total public debt reached ₦166.79 trillion as of June 30, 2026, an increase of ₦14.39 trillion or 9.44 percent from ₦152.40 trillion at the end of June 2025. Atiku criticized the government for the rising debt, stating that Nigerians have endured economic reforms while borrowing continues to grow. He demanded that the government publish the projects to be funded, the beneficiaries, targets, borrowing terms, and a timeline.

Atiku questioned the widening gap between revenue and debt growth, asking why more money is coming in yet the debt keeps climbing. The proposed facilities, if approved, would increase the project's financing from $700 million to $1.2 billion.