# Atiku Abubakar Challenges Tinubu’s $21 Billion Loan Request

- Link: https://viralbrief.top/atiku-abubakar-challenges-tinubus-21-billion-loan-request/
- Published: 2026-10-28T00:29:41+00:00
- Author: Olamide

Former Vice President and African Democratic Congress (ADC) presidential candidate,
Atiku Abubakar, has formally challenged President Bola Tinubu’s recent request for
legislative approval of significant external loans. The request, which seeks authorization
for $20.52 billion and €1.045 billion, has prompted calls for greater fiscal accountability
from the executive branch.

## The Call for Transparency

In a statement issued by Phrank Shaibu, Director of Strategic Communication for 
the ADC Presidential Campaign Council, Abubakar argued that the National Assembly
should refrain from approving **“a single dollar”** until the federal government
provides a comprehensive breakdown of the proposed spending. Abubakar emphasized
that the current request lacks essential information, including specific project
details, contract terms, associated costs, identified contractors, and clear repayment
obligations.

Abubakar stated that broad sectoral listings are insufficient to justify the scale
of the debt. He asserted that the public and the legislature require a project-by-
project account to ensure that funds are allocated appropriately rather than being
approved as a “blank cheque” against the nation’s future.

## Concerns Regarding the Coastal Highway

A central point of contention in Abubakar’s critique is the Lagos–Calabar Coastal
Highway. Abubakar alleged that he had previously warned of a $20 billion borrowing
plan linked to this project on October 12, a claim he suggests has been vindicated
by the President’s recent submission to the Senate.

Abubakar expressed particular concern regarding the rerouting of the highway inland.
He questioned whether the project is being utilized as a mechanism to channel public
funds toward political campaigners and preferred contractors, noting that the government’s
silence on these specific details remains “troubling.”

## Timing and Political Implications

The former Vice President also highlighted the timing of the loan request, which
arrives approximately 12 weeks before the upcoming election. He challenged the administration
to clarify whether the borrowing is intended as a legitimate development plan or
if it serves as a campaign financing scheme.

Abubakar concluded by placing the burden of proof on the President, insisting that
the administration must demonstrate that the debt will serve the national interest
rather than political objectives. He urged lawmakers to subject the proposal and
all supporting documentation to rigorous public scrutiny before taking any legislative
action.

## Conclusion

As of the time of reporting, the executive branch has not provided a detailed project-
by-project breakdown of the loan request, nor has it publicly addressed the specific
allegations regarding the rerouting of the Lagos–Calabar Coastal Highway. The debate
underscores the ongoing tension regarding transparency in national borrowing practices
as the country approaches the election cycle.

<

p class=”vbna-source-note”>**Source:** [Channels Television](https://www.channelstv.com/2026/10/27/nass-must-not-approve-a-single-dollar-atiku-tells-tinubu-to-publish-loan-details/)

  TL;DR (AI Generated)

Former Vice President Atiku Abubakar has urged the National Assembly to withhold
approval of President Bola Tinubu's massive external loan request until the government
provides a detailed, project-by-project spending breakdown.

Abubakar specifically questioned the transparency of a $20 billion borrowing plan
linked to the Lagos-Calabar Coastal Highway and its potential use for campaign financing.

He demanded that the administration prove the debt serves the national interest 
rather than political objectives before any legislative action is taken.

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