Former Vice President Atiku Abubakar has criticized President Bola Tinubu’s administration over a fresh request for $24.14 billion foreign loans.
Truth Live News reports that President Tinubu earlier this week requested the National Assembly’s approval for some foreign loans.
The request has triggered outrage among stakeholders, who fear it may balloon Nigeria’s debt to N183 trillion.
Atiku described the move as “reckless and dangerous” and said it threatens the future of Nigeria and generations yet unborn.
“The announcement by the APC-led government to pursue fresh loans is a reckless and dangerous move that threatens the future of Nigeria and generations yet unborn,” Atiku said.
According to Atiku, the “move comes while Nigeria’s debt burden is already at alarming levels.
“As of December 31, 2024, public debt stood at $94 billion, ₦144.7 trillion, and has jumped by 65.6% since President Tinubu assumed office in 2023,” he said.
Atiku lamented that since APC took over power in 2015, public debt has ballooned by 1,048%, from ₦12.6 trillion to ₦144.7 trillion.
He called for the immediate suspension of further borrowing by the present administration.