Atiku Challenges Tinubu to Justify Nigeria's ₦166.79 Trillion Debt Amid Rising Revenues

Former Vice President Atiku Abubakar has publicly challenged President Bola Tinubu to provide explanations for the alarming increase in Nigeria's public debt, which recently reached ₦166.79 trillion. This figure marks a substantial rise from ₦49.85 trillion recorded in March 2023, raising serious questions about the impact of the government's economic policies amidst claims of rising revenues.

In a statement issued by Phrank Shaibu, the Director of Strategic Communications for the ADC Presidential Campaign Council, Atiku emphasized that the Nigerian populace is entitled to understand why the government continues to borrow extensively. He noted that despite the reported increases in government revenues, citizens have not seen any corresponding improvements in their living conditions, which have been adversely affected by rising costs of food, transportation, fuel, and electricity.

“A government that says more money is coming in must explain why it keeps borrowing and why the people paying for its policies cannot see the promised gains,” Atiku stated.

Atiku's concerns extend beyond mere numbers; he urged President Tinubu to provide a comprehensive reconciliation of the national debt. This includes detailing old obligations that have been newly accounted for, the impact of exchange rates on foreign debt, and any new loans contracted since 2023, along with repayments and outstanding balances. His call for transparency reflects a growing frustration among Nigerians who are struggling with increasing living costs.

Furthermore, Atiku pointed out the widening gap between official economic indicators and the harsh realities faced by the average citizen. He argued that while government revenues and other macroeconomic indicators may show improvement, they have not translated into better living conditions for many Nigerians. “The true test of economic policy is whether Nigerians can afford their basic needs,” he concluded.