Atiku Rejects Tinubu’s Proposed $500M World Bank Loan, Says Successor Must Not Inherit Debt

11th November, 2026 | News

Atiku Abubakar Vows to Reject Fresh Borrowing, Slams Tinubu’s Proposed $500m World Bank Loan

Former Vice President and African Democratic Congress (ADC) presidential candidate Atiku Abubakar has strongly condemned the Bola Tinubu administration’s pursuit of a proposed $500 million World Bank loan, declaring that his incoming government will reject fresh borrowing.

The statement was issued by Phrank Shaibu, Director of Strategic Communication for the ADC Presidential Campaign Council.

Atiku criticised the timing of the loan proposal, asserting that an outgoing administration has no right to burden its successor and the Nigerian citizenry with fresh debt in the final days of its tenure.

“No outgoing president has the right to burden his successor with fresh debt days before handing over power. I will not accept it,” Atiku stated.

Atiku Pledges Fiscal Discipline and Responsible Leadership

Looking ahead to May 29, 2027, the former vice president pledged that his administration would prioritise fiscal discipline, responsible leadership, and the safeguarding of Nigeria’s economic future.

Comparing the current borrowing trajectory to severe economic hardship, Atiku warned against piling up liabilities:

“Taking loans as if you were a drunken sailor is a road to economic bondage, a second slavery. If this government is determined to mortgage Nigeria’s future and place our country at the mercy of creditors, we will not accept it.”

The latest remarks have further heightened political discourse surrounding national debt management, government spending, and economic policies ahead of the upcoming general elections.