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I Will Not Accept It. Tinubu’s Proposed $500 Million Loan Is A Debt Trap For My Incoming Administration — Atiku Abubakar Former Vice-President and ADC presidential candidate, Atiku Abubakar, has condemned the Tinubu administration’s proposed $500 million World Bank loan, warning against burdening the next government with fresh debt. In a statement issued by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, Atiku said: “No outgoing president has the right to burden his successor with fresh debt days before handing over power. “Taking loans as if you were a drunken sailor is a road to economic bondage, a second slavery. If this government is determined to mortgage Nigeria’s future and place our country at the mercy of creditors, we will not accept it. “The Tinubu administration’s latest move is a preemptive attempt to lock Nigeria into a path of economic instability. A government cannot use its final days in office to bind the country and make governance more difficult for its successor. “The proposed $500 million facility is scheduled for consideration on May 25, 2027, just four days before the next presidential inauguration. President Tinubu has no business committing the country to fresh debt as he prepares to leave office “As the Swahili proverb warns, ‘If you borrow a man’s legs, you will go where he directs.’ “We call on the World Bank not to approve this proposed loan. Nigerians deserve full disclosure of its terms, risks and repayment obligations. “I will not accept it. The Atiku administration will commence on May 29, 2027, and we will not begin our government by taking another loan. We will begin with a commitment to responsible leadership, fiscal discipline and the protection of Nigeria’s future.”