Atiku Faults Tinubu Government Over ₦12.62tn Borrowing in 2024

Atiku Abubakar has criticised President Bola Tinubu’s administration over claims that the Federal Government exceeded its 2024 borrowing limit by ₦4.79 trillion, bringing fresh borrowing to ₦12.62 trillion. The former vice president said the borrowing contradicted promises that subsidy removal, tax increases and other reforms would improve fiscal stability. He also questioned reports of ₦3.19 trillion in budget-support borrowing that was not included in the approved budget. Atiku alleged that the government was relying on opaque and wasteful spending while education, healthcare, security and infrastructure remained underfunded. He further argued that continued borrowing was difficult to justify amid an estimated ₦7.98 trillion oil-revenue windfall.

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