Former Vice President Atiku Abubakar has criticized the proposed Vienna-listed bond arrangement, describing it as a sign of a government that keeps expanding its borrowing appetite without accounting for record revenues, subsidy savings, and windfalls from higher crude oil prices. In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said it is indefensible that the Federal Government is seeking more overseas financing while Nigerian factories spend as much as half of their operating costs on power. He noted that manufacturers are battling diesel prices above ₦2,000 per litre, crippling power costs, and expensive credit, while government borrowing continues to rise.
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