The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has accused President Bola Tinubu of losing control of Nigeria’s economy amid revelations that the Federal Government exceeded its 2024 borrowing limit by N4.79 trillion, bringing total fresh borrowing to N12.62 trillion.
In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, the former Vice President criticized the administration’s fiscal management, noting that the Budget Office reported the government borrowed 61.2 per cent above the amount approved by the National Assembly.
Atiku highlighted an additional N3.19 trillion obtained as “budget support,” despite no such provision in the approved budget and without clear disclosure of its source. He described this as part of a broader pattern of “duplication, opacity, and reckless fiscal management” under the Tinubu administration.
The ADC candidate recalled promises that the removal of fuel subsidies, tax increases, and other reforms would reduce borrowing and restore stability.
