Former Vice President and African Democratic Congress presidential candidate, Atiku Abubakar, has called on the Federal Government to provide details on how previously borrowed funds were utilised before seeking an additional $1.5 billion loan.

In a statement issued on Monday, Atiku expressed concern over Nigeria’s rising debt profile, arguing that citizens deserve greater transparency on the use of public borrowings and the outcomes achieved through them.

He noted that Nigerians have endured economic hardships following several government reforms and questioned the extent to which the expected benefits of those policies have translated into tangible development.

According to him, any new borrowing should be accompanied by clear information on the projects to be funded, the expected beneficiaries, implementation timelines and measurable targets.

Atiku also called for greater accountability in areas such as climate resilience, social protection and early childhood development, stressing that programmes funded through loans should produce verifiable results for citizens.

He further questioned the relationship between rising public debt and government claims of increased revenue and savings generated from recent economic reforms.

The former vice president maintained that Nigerians should be able to assess the impact of previous loans through completed projects, improved services and other measurable outcomes.

He urged the government to provide a comprehensive account of existing debt obligations and the projects financed through them before contracting additional loans.