African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, says President Bola Tinubu has lost control of Nigeria’s finances following the latest revelation that the Federal Government exceeded its 2024 borrowing limit by N4.79 trillion, pushing fresh borrowing to N12.62 trillion.
Atiku spoke in a statement by his Senior Special Assistant on Public Communication, Phrank Shaibu.
The former Vice President stated that Nigerians were promised that the painful removal of fuel subsidy, repeated tax hikes and other harsh economic measures would reduce borrowing and restore fiscal stability, stressing that instead, the country is witnessing the exact opposite, including endless borrowing, ballooning debt and unprecedented waste.
The Budget Office has said that the Federal Government borrowed 61.2 per cent above what was approved by the National Assembly.
“President Tinubu has lost control of the nation’s economy. Worse still, an additional N3.19 trillion classified as “budget support” was obtained despite no such provision
