Kano-based political commentator Abbati Bako has advised former Vice-President Atiku Abubakar to focus his criticism of President Bola Tinubu’s borrowing on how public funds are spent rather than the volume of loans.
In an open letter to Atiku, Bako said borrowing was not necessarily bad, citing the United States, Japan and the United Kingdom as countries that use public debt to fund development.
He identified high interest rates, exchange-rate exposure, poor transparency and alleged diversion of funds as Nigeria’s major borrowing concerns.
He challenged Atiku to outline a different borrowing policy ahead of the 2027 presidential election, including cheaper concessional loans, naira-denominated borrowing and public disclosure of projects financed through debt.
According to him, Atiku should not promise to avoid borrowing if elected but explain how his administration would manage loans more responsibly.
The former Kano State Independent Electoral Commission (KANSIEC) commissioner further called for the prosecution of public officials found guilty of misappropriating borrowed funds, irrespective of their political affiliations.
He rejected the description of Nigeria as a beggar nation, saying the country had sufficient natural resources but was being held back by poor management and excessive government spending.
