Atiku Abubakar Condemns Proposed $500 Million World Bank Loan
Atiku Abubakar criticized President Bola Tinubu's administration for seeking a $500 million World Bank loan shortly before the 2027 presidential inauguration.
Presidential candidate Atiku Abubakar condemned the administration of President Bola Tinubu for pursuing a proposed $500 million loan from the World Bank. Atiku described the borrowing as a debt trap and an attempt to burden the incoming administration with fresh obligations just days before the next presidential inauguration.
The facility is scheduled for consideration on May 25, 2027, which is four days prior to the May 29 inauguration. Atiku argued that an outgoing government lacks the right to commit the country to new borrowing at such a late stage and urged the World Bank to reconsider the approval timetable.
Atiku called for full public disclosure regarding the loan's terms, risks, and repayment conditions. He stated that if elected, his administration would prioritize fiscal discipline and reduce dependence on borrowing to avoid economic bondage.
