Former Vice President Atiku Abubakar has launched a scathing critique of President Bola Tinubu's administration, particularly as it approaches its second year in office. In statements made on Thursday, Atiku described the Tinubu government as “incompetent,” “disconnected,” and “anti-people,” asserting it is one of the worst in Nigeria’s democratic history. He contended that no previous administration has inflicted such a level of hardship on the populace while demonstrating a profound disregard for transparency, accountability, and responsible leadership.

Atiku Abubakar alleged that the Tinubu-led government has intensified economic hardship for Nigerians and significantly increased the nation's public debt through policies that disproportionately affect the poorer segments of society. He highlighted that Nigeria’s public debt, which was around ₦49 trillion in 2023, had surged dramatically. As of December 31, 2024, public debt stood at $94 billion (approximately ₦144.7 trillion). Furthermore, Atiku warned that new borrowing proposals could escalate this figure to a staggering ₦183 trillion. He contrasted this federal trend with state governments, which he said have shown more fiscal discipline by reducing their collective debt levels from ₦5.86 trillion to ₦3.97 trillion, implying that the federal government under Tinubu is the primary driver of Nigeria’s current debt crisis.

The former Vice President specifically criticized a new loan request by President Tinubu, who sought National Assembly approval for borrowing plans totaling $21.54 billion, €2.19 billion, and 15 billion Japanese yen, along with a €65 million grant, as part of the 2025–2026 borrowing framework. Atiku labeled this move as “reckless and dangerous,” noting that the total sum, equivalent to over $24 billion, represents more than 60% of Nigeria’s total foreign exchange reserves. He reiterated that this borrowing spree would push the total public debt from ₦144.7 trillion to a crushing ₦183 trillion.

Detailing the trajectory of the debt, Atiku stated that since President Tinubu assumed office in 2023, public debt has jumped by 65.6%. Looking at a broader timeframe, he asserted that under the All Progressives Congress (APC)-led administration since 2015, public debt has ballooned by an alarming 1,048%, from ₦12.6 trillion to ₦144.7 trillion. He also pointed to critical economic indicators, such as the debt-to-GDP ratio exceeding 50% and a debt-service-to-revenue ratio surpassing 130%, meaning the government now spends more on repaying loans than it earns.

Atiku condemned this fiscal approach as “not just unsustainable — it is immoral.” He argued that the Tinubu administration is borrowing money not for national development but primarily to service existing loans, thereby fueling a dangerous debt spiral that leaves insufficient resources for crucial sectors like infrastructure, education, healthcare, or job creation. He described this