• ADC: FG’s social intervention big racket, hard to find beneficiaries
Chuks Okocha in Abuja
Former Vice President, Atiku Abubakar, yesterday described the federal government’s ‘unprecedented’ appetite for domestic borrowing as evidence of dangerous fiscal indiscipline that is starving Nigerian businesses of credit, killing jobs and worsening the cost-of-living crisis.
In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said it was particularly alarming that the Bola Tinubu administration continues to borrow at such a frightening pace at a time when crude oil prices have risen substantially above the assumptions upon which the 2026 budget was built.
“At the beginning of this fiscal year, the federal government budgeted on an oil benchmark of $64.85 per barrel. Today, crude oil prices have risen substantially above that benchmark.
