Atiku slams Tinubu’s Vienna borrowing amid diesel crisis

Former Vice President Atiku Abubakar has criticised the Tinubu administration’s planned Vienna-listed bond arrangement, describing it as indefensible amid soaring diesel costs crippling Nigerian factories.

Peoples Gazette reports that Atiku, in a statement by his aide Phrank Shaibu, said manufacturers now spend over half their operating costs on energy, with diesel exceeding ₦2,000 per litre, even as government borrowing accelerates despite rising revenues and subsidy savings.

He noted that domestic borrowing hit ₦24.7 trillion in the first eight months of 2026, nearly double the previous year’s figure, questioning why borrowing continues if oil earnings exceed budget projections.

Atiku demanded full disclosure of the Vienna transaction’s terms, insisting, “Bola Tinubu must open the books” before seeking further financing abroad.