The group accused Atiku, who is expected to contest the forthcoming election on the platform of the ADC, of repeatedly using Nigeria’s public debt figures to mislead Nigerians for political advantage
By Moses Okorie
The Democratic Front (TDF) has criticised former Vice President Atiku Abubakar for questioning President Bola Tinubu’s request for a fresh loan from the World Bank, describing his position as evidence of a lack of understanding of the institution’s lending procedures.
In a statement signed by its Chairman, Mallam Danjuma Muhammad, and Secretary, Chief Wale Adedayo, the group said it was surprised that Atiku, a former vice president and presidential candidate, could question the accountability requirements attached to World Bank lending.
TDF argued that the World Bank does not approve fresh loans without assessing a country’s compliance with its legal, policy and reform conditions, as well as its record of implementing and servicing previous loans.
The group said approval of a fresh facility for Nigeria was itself an indication that the country had satisfied the necessary accountability and repayment requirements.
It also cited the repayment of the IMF’s COVID-19 loan, which it said amounted to 3.4 billion dollars and was settled by the Tinubu administration in May 2025, as evidence of Nigeria’s capacity to service its debts.
TDF further maintained that the Tinubu administration obtained the approval of the National Assembly before seeking the fresh World Bank facility, describing this as confirmation that due process and constitutional requirements were followed.
The group accused Atiku, who is expected to contest the forthcoming election on the platform of the ADC, of repeatedly using Nigeria’s public debt figures to mislead Nigerians for political advantage.
While acknowledging that Nigeria’s public debt of N166.79 trillion was substantial, TDF argued that the figure remained manageable when compared with the debt profiles of other major African economies, including South Africa and Egypt.
It also pointed to a 55 percent debt service-to-revenue ratio, 4.43 percent year-on-year GDP growth and foreign reserves of 55.25 billion dollars as indicators of what it described as Nigeria’s available fiscal space for investment and economic development.
The group condemned Atiku’s criticism of the fresh World Bank loan request, describing it as “jaundiced” and politically motivated.
TDF urged Nigerians to reject what it called attempts to mislead the public and advised voters not to support Atiku in the forthcoming elections.