Fiscal vandalism: Atiku raises alarm over Nigeria’s N12.62tr debt profile

Nigerian politician Atiku Abubakar has sounded the alarm over the nation's escalating debt, which has climbed to N12.62 trillion (approximately $8.2 billion USD). Abubakar, a prominent figure in Nigerian politics, described the situation as "fiscal vandalism."

He specifically condemned the government's acquisition of an additional N3.19 trillion (approximately $2.1 billion USD) designated as "budget support." Abubakar pointed out that this substantial sum was obtained without clear disclosure of its origin and in the absence of any provision within the officially approved budget.

The politician's concerns highlight ongoing debates about Nigeria's fiscal management and debt sustainability. The lack of transparency surrounding these "budget support" funds raises questions about accountability and the potential impact on the country's economic stability.