The presidential candidate of the African Democratic Congress (ADC), former Vice President Atiku Abubakar, has strongly criticized President Bola Tinubu over the federal government’s plan to secure a fresh $1.5 billion loan from the World Bank. Atiku demanded that the administration provide a comprehensive public account of Nigeria’s existing ₦166.79 trillion debt before plunging the nation into further liabilities.

In a statement issued by Phrank Shaibu, Director of Strategic Communications of the ADC Presidential Campaign Council, Atiku accused the Tinubu administration of running an insensitive government that demands endless sacrifices from struggling citizens while continuously accumulating massive loans.

Atiku stated that the current economic realities serve as a direct indictment of the administration`s economic stewardship. He pointed out that while Nigerian families are finding it increasingly difficult to afford basic necessities like food, fuel, and electricity, the country`s debt profile has continued to climb exponentially.

The per-capita national debt burden for every Nigerian citizen has surged to ₦716,822, highlighting the intensifying severity of the country`s ongoing financial crisis. This alarming figure represents the personal debt share each citizen would carry if Nigeria`s total public liabilities were distributed equally across the population today.

This current figure marks a staggering 87 percent increase from just three years ago, when the debt share per citizen stood at ₦383,442. The rapid escalation underscores a dramatic shift in the nation`s financial health, drawing sharp criticism over the fiscal trajectory maintained under the current administration.

"Nigerians were promised that painful policies would free resources for development," Atiku noted. "They have felt the pain. Where is the development? The President cannot keep loading debt onto the country and expect Nigerians to applaud programme titles."

The proposed World Bank financing consists of three separate $500 million facilities earmarked for climate resilience, social protection, and early childhood development. While acknowledging that these areas address genuine national challenges, Atiku insisted that worthy program names cannot substitute for financial accountability.

Before any agreements are finalized, the ADC candidate demanded that the federal government publish:The exact projects and targets tied to the fresh funds.A definitive list of communities and citizens expected to benefit.The exact borrowing terms, disbursement rules, and a strict timeline that Nigerians can use to independently track project delivery.

He stressed that "climate resilience" must translate into identifiable land restoration and flood protection, "social protection" must explicitly identify its recipients, and "early childhood development" must yield verifiable metrics in nutrition and healthcare.

Atiku further challenged the presidency to reconcile its aggressive borrowing habits with its frequent public declarations of hitting record-high revenues following the removal of the petrol subsidy.

"If more money is coming in, why does the debt keep climbing? If Nigerians have sacrificed so much, where are the results?" Atiku queried. He concluded that a responsible government cannot consistently announce financial savings, sign new loan agreements, and simultaneously ask impoverished families to wait indefinitely for relief.