September 8, 2026
According to THISDAY, former Vice-President Atiku Abubakar has criticised the Federal Government’s domestic borrowing, arguing that increased government demand for credit is constraining private-sector access to finance.
Atiku said federal domestic borrowing reached ₦24.7 trillion between January and August 2026, considerably above the comparable period in 2025.
His argument is that higher oil prices, subsidy savings and increased nominal government revenue should have reduced the government’s reliance on domestic debt. The figures and conclusions remain part of an opposition political critique of the administration.
TheCable quoted Atiku saying borrowing was “starving Nigerian businesses of credit,” while The Guardian reported his allegation of “reckless” borrowing despite higher crude prices.
Echotitbits take: The crowding-out argument deserves examination against actual Treasury issuance, bank credit allocation and interest rates. The government’s strongest response would be a transparent reconciliation of borrowing, capital expenditure and the use of additional fiscal revenues.
Source: Vanguard – https://www.vanguardngr.com/2026/09/fg-borrowing-like-drunken-sailor-despite-revenue-windfall-atiku/, September 8, 2026.
Photo Credit: The Cable
