​'A Disturbing Erosion of Oversight' — Atiku Slams Senate Over Speedy Approval of Tinubu’s $6 Billion Loan

​Atiku Abubakar has condemned the Senate’s 'reckless urgency' in approving a fresh $6 billion loan, accusing the legislature of acting as a 'conveyor belt' for the executive.

​Former Vice President and chieftain of the African Democratic Congress (ADC), Atiku Abubakar, has voiced strong opposition to the Senate's rapid approval of President Bola Tinubu’s request for a fresh $6 billion external loan. In a statement released on Tuesday, March 31, 2026, through his media aide, Phrank Shaibu, Atiku described the 'record time' approval—reportedly completed in less than four hours—as a deeply concerning development for the nation’s democracy. According to him, a decision with such profound consequences for future generations should not have been treated with such 'casual urgency'.

​Atiku's reaction follows the news that the Godswill Akpabio-led Senate had greenlit the President’s request to borrow $5 billion from the Abu Dhabi Bank and another $1 billion from a UK Export Finance facility. While the government maintains that the funds are necessary for budget deficit financing and critical port infrastructure, Atiku argued that the National Assembly has reduced itself to a 'rubber stamp' and a 'conveyor belt' for executive requests. He questioned the lack of rigorous analysis and public debate, asking, 'Where was the accountability?'

​The former VP further warned that Nigeria is entering a 'dangerous cycle' by resorting to fresh borrowing to service existing debts and plug budget gaps. He pointed to recent fiscal indicators from the World Bank showing that Nigeria’s exposure to concessional loans is already at record highs. Atiku expressed concern that this unsustainable borrowing trajectory suggests a troubling absence of fiscal discipline. 'Nigeria is not a private enterprise to be leveraged at will. The future of our nation cannot be signed away in a matter of hours,' he added.

​The statement has added fuel to the ongoing debate regarding the country’s debt profile, which is estimated to be over N159 trillion. While the presidency continues to defend the loans as strategic necessities for infrastructure and economic stability, opposition figures like Atiku are calling for more transparency and legislative diligence. As the 2027 political cycle begins to take shape, these fiscal decisions are becoming a major point of contention between the ruling APC and the emerging opposition coalition.