Atiku urges World Bank to reject Tinubu's $500M loan days before 2027 handover

Atiku Abubakar calls on the World Bank to reject the Tinubu administration's $500 million loan request slated for consideration on May 25, 2027—just four days before the next presidential inauguration. The former vice president and ADC presidential candidate argues no outgoing president has the right to burden an incoming administration with fresh debt in the final days of office.

Nigeria's total public debt already hit ₦166.79 trillion as of June 2026, per Debt Management Office data. Atiku warns that "taking loans as if you were a drunken sailor is a road to economic bondage, a second slavery." The Tinubu administration maintains current debt levels are sustainable, but financial experts including Professor Godwin Oyedokun urge caution over the rising profile.

The loan timing puts the World Bank in a political spotlight: approve a facility for an outgoing government days before transition, or defer to the incoming administration. Atiku's ADC and other opposition voices frame this as mortgaging Nigeria's future beyond 2027.

Should the World Bank approve loans for outgoing governments during transition periods, or should major borrowing wait for a new mandate?

SOURCE: https://dailypost.ng/2026/11/10/atiku-urges-world-bank-to-reject-tinubus-500m-loan-request/