Candidate of the African Democratic Congress (ADC) in the 2027 presidential election, Alhaji Atiku Abubakar has called on President Bola Tinubu to disclose how the $5 billion facility from First Abu Dhabi Bank, would be utilised.

Atiku in a statement by his media office, said since assuming office on May 29, 2023, President Tinubu’s administration has contracted significant new debt.

The former vice president said the Debt Management Office (DMO), disclosed that the Tinubu administration has added N72 trillion of fresh debt stock, bringing the total indebtedness to N159.35 trillion, as at early 2026.

According to Atiku, despite these borrowings, “Nigerians remain poorer and less secure.”

He noted that poverty levels have risen from 56 percent in 2023 to between 61 percent and 63 percent under the Tinubu administration, while over 140 million Nigerians have fallen into multidimensional poverty.

The ADC candidate also criticised the Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, for dismissing public calls to explain the Abu Dhabi loan.

The finance minister had stated that the facility was approved by the National Assembly and intended to refinance more expensive debt but refused to disclose spending details.

But Atiku argued that the government has the obligation to explain every loan taken on behalf of Nigerians.

“Every Kobo borrowed matters because citizens — both living and unborn — will bear the burden of repayment. Yet these loans have failed to improve their material wellbeing,” he said.

The former vice president further noted that the Federal Government is required to pledge securities worth about 133 percent of the loan amount as collateral, to ensure transparency.

He reminded Nigerians that both the International Monetary Fund (IMF) and Fitch Ratings have raised concerns about the financing structure, citing risks to transparency and sovereign debt sustainability, and urged Nigerians to hold the government accountable, adding, “borrowing without clear results undermines trust and jeopardizes the nation’s economic future.”

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