Atiku Demands Details of $5bn Abu Dhabi Bank Loan Secured by Tinubu

Former Vice President and African Democratic Congress presidential candidate, Atiku Abubakar, has called on Nigerians to demand full disclosure from President Bola Tinubu’s administration over the $5 billion loan facility secured from First Abu Dhabi Bank.

Atiku, in a statement issued by his media office in Abuja on Sunday, accused the administration of lacking transparency in its borrowing decisions and questioned how the facility would be utilised.

He said Nigerians, as taxpayers who will ultimately bear the burden of repaying the loan, deserve to know the purpose, terms, collateral and expected economic benefits of the facility.

Atiku also criticised the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, over his response to calls for details of the loan. 

Oyedele had said the facility was approved by the National Assembly and would be used to refinance more expensive debt.

However, Atiku insisted that the government must provide Nigerians with more information on the arrangement, arguing that approval by the National Assembly does not remove the need for transparency.

“The government is obliged to explain every loan taken on behalf of Nigerians,” Atiku said.

He further claimed, citing Debt Management Office figures, that the Tinubu administration had added N72 trillion to Nigeria’s debt stock since assuming office in May 2023, bringing total indebtedness to N159.35 trillion as of early 2026.

Atiku questioned the justification for the rising debt, arguing that Nigerians had yet to see corresponding improvements in their living conditions, economic security and general wellbeing.

He also expressed concern over the requirement for Nigeria to pledge securities worth about 133 per cent of the loan amount as collateral, saying the scale of the commitment made transparency even more important.

The former vice president warned that continued borrowing without clear economic benefits could saddle future generations with an unsustainable debt burden.

He urged Nigerians to demand accountability from the government and insist on evidence that borrowed funds are being deployed to projects and programmes capable of improving the economy and the living conditions of citizens.