‘Tinubu Must Not Borrow Another ₦10.79 Trillion!’ Atiku Challenges Senate Over Fresh Loan Request

Former Vice President Atiku Abubakar has urged the National Assembly to reject President Bola Tinubu’s proposed ₦10.79 trillion foreign loan, warning against piling more debt on Nigerians.

Atiku’s reaction follows Tinubu’s request for Senate approval to borrow $7.7 billion to partly finance the 2026 budget deficit.

In a statement issued on Wednesday through his media aide, Phrank Shaibu, Atiku questioned why the Federal Government was seeking another massive loan shortly after submitting an earlier borrowing proposal.

According to reports by Daily Post and The Sun, Atiku demanded full details of the projects the money would finance, including their costs, interest rates and repayment conditions.

He warned that Nigerians should not be expected to carry the burden of fresh loans without knowing how the funds would be spent.

Atiku also called on the Senate to scrutinise the proposal and demand a credible repayment plan before granting approval.

Meanwhile, President Tinubu’s latest request replaces an earlier proposal for $20.5 billion in external borrowing, according to TheCable and Premium Times.