Atiku Asks Tinubu To Come Clean On $5bn Abu Dhabi Loan

Former Vice President of Nigeria and Presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has criticised the President Bola Tinubu-led government’s handling of the $5 billion facility from First Abu Dhabi Bank, insisting that taxpayers deserve full disclosure of how such funds will be utilised.

He further called on Nigerians to demand accountability from the Tinubu-led APC government over its rising debt profile, warning that unchecked borrowing risks trapping future generations in unsustainable debt.

Atiku, in a statement signed by his media office, accused the administration of incompetence and financial impropriety, citing a lack of transparency in recent loan agreements.

He said, “Since assuming office on May 29, 2023, President Bola Tinubu’s administration has contracted significant new debt. According to the Debt Management Office, the Tinubu administration has added N72 trillion to the fresh debt stock, bringing the total indebtedness to N159.35 trillion as of early 2026.
“Despite these borrowings, Atiku argued, Nigerians remain poorer and less secure. Poverty levels have risen from 56% in 2023 to between 61% and 63% under the Tinubu administration, leaving over 140 million citizens trapped in multidimensional poverty.”

Atiku also criticised the Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, for dismissing public calls to explain the Abu Dhabi loan.

He said Oyedele had stated that the facility was approved by the National Assembly and intended to refinance more expensive debt but refused to disclose spending details.

“The government is obliged to explain every loan taken on behalf of Nigerians,” Atiku said. “Every kobo borrowed matters because citizens — both living and unborn — will bear the burden of repayment. Yet these loans have failed to improve their material wellbeing.”

He further noted that the Federal Government is required to pledge securities worth about 133% of the loan amount as collateral, making transparency even more critical. Atiku reminded Nigerians that both the International Monetary Fund and Fitch Ratings have raised concerns about the financing structure, citing risks to transparency and sovereign debt sustainability.

Atiku urged Nigerians to hold the government accountable, stressing that borrowing without clear results undermines trust and jeopardises the nation’s economic future.