Atiku faults FG over fresh $1.5bn World Bank loan
Atiku Abubakar has charged President Tinubu to account for existing debts before the FG proceeds with its proposed $1.5bn World Bank loan for new projects. Read More: https://punchng.com/atiku-faults-fg-over-fresh-1-5bn-world-bank-loan/
Atiku Abubakar, the presidential candidate of the African Democratic Congress, has urged President Bola Tinubu to justify Nigeria's growing public debt before seeking a $1.5 billion loan from the World Bank. This demand emerges as fresh World Bank documents reveal the government is considering three financing facilities totaling $1.5 billion, including $500 million each for climate resilience, social protection, and early childhood development.
Nigeria's total public debt hit ₦166.79 trillion as of June 30, 2026, a 9.44 percent increase from ₦152.40 trillion at the end of June 2025. Atiku called for the government to first account for how already borrowed funds were deployed and demonstrate the benefits delivered to Nigerians. He questioned why the government claims increased revenue and savings from the removal of petrol subsidies while the public debt continues to rise.
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