Former Vice President Atiku Abubakar has demanded a detailed breakdown of Nigeria’s ₦166.79tn public debt, questioning how much of the increase under President Bola Tinubu represents fresh borrowing.
Atiku, through his Director of Strategic Communications, Phrank Shaibu, said Nigerians deserve clarity on new loans, debt repayments and obligations previously not captured in official figures.
The Debt Management Office reported that Nigeria’s total public debt stood at ₦166.79tn as of June 30, 2026.
But Atiku said the figure requires further explanation, particularly regarding the impact of foreign exchange valuation changes and genuinely new borrowing.
He also questioned the government’s debt-servicing obligations, including a reported $22.5m charge linked to a Total Return Swap with First Abu Dhabi Bank.
Atiku further raised concerns over ₦19.48tn in outstanding Nigerian Treasury Bills as of June 30, calling for reconciliation of the figures and greater transparency.
He argued that the rising debt burden was coming amid worsening pressure on households, with Nigerians facing higher costs of basic goods and services.
Atiku also cited an IMF assessment which said Nigeria’s economic reforms had improved some macroeconomic indicators, while poverty and food insecurity remained significant concerns.
He therefore called on the Tinubu administration and the ruling All Progressives Congress to account for its borrowing and address the economic hardship facing Nigerians.
