Atiku challenges Tinubu over fresh $7.7 billion loan

Former Nigerian vice president Atiku Abubakar challenged President Bola Tinubu’s request for a fresh $7.7 billion foreign loan, equivalent to about 10.79 trillion naira. He urged the Senate to scrutinize the proposal and demanded disclosure of the funded projects, costs, interest rates and repayment schedules. Atiku noted that the request followed separate borrowing proposals of $20.52 billion and €1.045 billion, and called on international lenders to pause new lending until the government provides transparent terms and a credible repayment plan. He also criticized worsening living conditions, infrastructure and social welfare despite the removal of the petroleum subsidy and extensive borrowing.