Former Vice President Atiku Abubakar has described the proposed Vienna-listed bond arrangement as another disturbing sign of a government that keeps expanding its appetite for borrowing. Atiku alleged that the government has refused to give Nigerians a clear account of what has happened to record revenues, subsidy savings, and the windfall from higher crude oil prices. He said it is indefensible that at a time when Nigerian factories are spending as much as half of their operating costs simply to keep the lights on, the government is again looking overseas for more financing without first explaining why vastly improved revenues have failed to reduce its dependence on debt. In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku demanded transparency in government spending and borrowing.
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