Atiku Condemns $4.5bn NNPCL Refinancing, Says It’s Mortgaging Future of Nigerians
Chuks Okocha in Abuja
Former Vice President and presidential candidate of African Democratic Congress (ADC), Atiku Abubakar, has condemned the approval of $4.5 billion by the National Economic Council (NEC) for the refinancing of an oil-backed loan contracted by Nigerian National Petroleum Company Limited (NNPCL).
Atiku described the move as further proof that the President Bola Tinubu administration had mortgaged Nigeria’s future to sustain its reckless fiscal habits.
In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said every new oil-backed obligation pushed Nigeria deeper into a vicious cycle where tomorrow’s wealth was sacrificed to finance today’s policy failures.
