TINUBU LOAN REQUEST: ATIKU URGES SENATE TO DEMAND DETAILS

Atiku Abubakar says the Tinubu loan request vindicates his earlier warning, and he wants the Senate to demand full project details before approving it.

THE REQUEST

Senate President Godswill Akpabio read a letter from Tinubu on Tuesday asking for approval of the 2026–2027 Supplementary External Borrowing Plan.

The total is $20,517,755,901 and €1,045,083,643.

The letter lists infrastructure, agriculture, health, education, water supply, security and employment generation, among other sectors.

THE SENATE’S RESPONSE

Akpabio said the plan was approved earlier in the budget and in an external borrowing plan covering 2025 to 2027.

He referred it to the Committee on Local and Foreign Debts, chaired by Haruna Manu, to clarify its scope. The committee must report back within one week.

ATIKU’S CLAIMS

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Atiku, the ADC presidential candidate, said in a statement by Phrank Shaibu that he had warned on 12 October and challenged Tinubu to confirm or deny the plan. He had linked that warning to the Lagos-Calabar Coastal Highway.

ValidViewNetwork does not establish that link.

Atiku asked how the President could seek over $20 billion in debt barely 12 weeks before an election without naming projects and costs. He alleged the loans could fund political campaigns and favoured contractors.

That is his allegation, and the presidency has not responded in the reports seen so far. He also vowed to probe every loan taken under this administration if elected.

THE TEST

The Tinubu loan request now turns on the committee’s report. Public borrowing needs public detail. Whether that detail arrives within a week will say more than either side’s statements. ValidViewNetwork reports.