African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has challenged President Bola Ahmed Tinubu to account for Nigeria’s ₦166.79 trillion public debt before seeking fresh loans of $1.5 billion from the World Bank.
Atiku made the demand on Monday in a statement issued by Phrank Shaibu, Director of Strategic Communications of the ADC Presidential Campaign Council.
Nigeria’s total public debt stood at ₦166.79 trillion as of June 30, 2026, according to the latest figures from the Debt Management Office (DMO).
The figure comprises ₦91.59 trillion in domestic debt and ₦75.20 trillion in external debt.
Reacting to the debt figures and the proposed World Bank financing, Atiku accused the Tinubu administration of continuing to seek new loans while Nigerians face rising living costs.
“With public debt at N166.79 trillion, Tinubu is now seeking another $1.5 billion from the World Bank. The President must first account for the money already borrowed,” Atiku said.
The Federal Government is currently discussing three proposed World Bank facilities worth $500 million each, covering climate resilience, social protection and early childhood development.
Atiku argued that the proposed financing should be directed towards addressing pressing needs, but said the government should also provide details on how previous loans had been utilised and how new borrowing would produce measurable results.
He further questioned the relationship between increased government revenue and continued borrowing, particularly following the removal of the petrol subsidy.
“If more money is coming in, why does the debt keep climbing? If Nigerians have sacrificed so much, where are the results?” the former Vice President said.
Atiku also said Nigerians were struggling with the cost of food, fuel and electricity, arguing that the government needed to demonstrate how its economic policies and borrowing were improving living conditions.
His comments come amid renewed debate over Nigeria’s debt profile and the Federal Government’s plans for additional borrowing. The DMO reported that public debt increased from ₦159.35 trillion in March 2026 to ₦166.79 trillion by the end of June.
