Atiku accuses Tinubu of making Buhari’s borrowing mistakes - Newstrends
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Atiku accuses Tinubu of making Buhari’s borrowing mistakes

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President Bola Ahmed Tinubu and Alhaji Atiku Abubakar

Atiku accuses Tinubu of making Buhari’s borrowing mistakes

Atiku Abubakar, the Peoples Democratic Party’s 2023 presidential candidate, has criticised President Bola Tinubu’s 2025 budget proposal, accusing him of repeating his predecessor Muhammadu Buhari’s borrowing mistakes. 

Atiku, who scrutinised the budget, claimed that it lacked the fundamental reforms and budgetary discipline required to confront Nigeria’s complex economic problems.

In a statement released on Sunday, Atiku questioned the budget’s ability to promote long-term economic growth or address the country’s long-standing issues.

On Wednesday, President Bola Tinubu delivered an N47.9 trillion budget proposal to a joint session of the National Assembly.

The proposed budget sets aside N4.91 trillion for military and security, N4.06 trillion for infrastructure, N2.48 trillion for health, and N3.52 trillion for education.

AtikuE criticised the budget proposal, saying it reflected a continuation of “business-as-usual” fiscal practices, which he claimed had persisted under the All Progressives Congress-led administration since 2016.

He contended that these tactics had resulted in chronic budget deficits and an increased reliance on foreign borrowing.

“To bridge this fiscal gap, the administration plans to secure over N13tn in new borrowings, including N9tn in direct loans and N4tn in project-specific financing.

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“This borrowing strategy mirrors the approach of previous administrations, leading to escalating public debt and compounding risks related to interest payments and foreign exchange exposure,” Atiku added.

The former Vice President emphasised the budget’s reliance on deficit financing, noting that it estimates N48 trillion in expenditures against a revenue prediction of N35 trillion, resulting in a deficit of more than N13 trillion—equivalent to 4% of the country’s GDP.

Atiku attacked the 2024 budget’s underperformance, which he attributed to weak execution capabilities.

“By the third quarter of 2024, less than 35% of the capital expenditure allocated to ministries, departments, and agencies had been disbursed, despite claims of 85% budget implementation. This raises concerns about the effective execution of the 2025 budget.

“The 2025 budget lacks the structural reforms and fiscal discipline required to address Nigeria’s multifaceted economic challenges.

“To enhance its credibility, the administration must prioritise reducing inefficiencies in government operations, tackling contract inflation, and focusing on long-term fiscal sustainability rather than perpetuating unsustainable borrowing and recurrent spending patterns.”

He also voiced concern about the allocation of N15.8 trillion (33% of total expenditure) to debt servicing, noting that it is roughly equivalent to the anticipated capital investment of N16 trillion (34%).

“This imbalance undermines fiscal stability, crowds out essential investments, and perpetuates a cycle of increasing borrowing.

“The government’s recurrent expenditure, which accounts for over N14tn (30% of the budget), remains disproportionately high, according to Atiku.

“This reflects the continued operation of an oversized bureaucracy and inefficient public enterprises, leaving limited resources for development projects,” Atiku said.

He further mentioned the inadequacy of capital spending, stating, “After accounting for debt servicing and recurrent expenditure, the remaining funds for capital spending—representing 25% to 34% of the total budget—are insufficient to address Nigeria’s infrastructure deficit or stimulate growth.

“This equates to an average capital allocation of N80,000 (approximately $45) per capita, which is inadequate for a country grappling with slow economic growth and infrastructural underdevelopment.”

He condemned the administration’s decision to increase the VAT rate from 7.5% to 10%, calling it a regressive measure that would exacerbate the cost-of-living crisis and impede economic growth.

“By imposing additional tax burdens on an already struggling populace, without addressing inefficiencies in governance, the government risks stifling domestic consumption and deepening economic hardship,” Atiku said.

Atiku advocated for a transition towards disciplined and growth-orientated fiscal policies, highlighting the need to reduce waste, improve the efficiency of public spending, and prioritise investments in important industries.

He finished by pushing the administration to reconsider its borrowing policy and implement changes that would ensure long-term fiscal sustainability and economic growth.

Atiku accuses Tinubu of making Buhari’s borrowing mistakes

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Police Arrest 33 Suspects Over Kwara Church Attack

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Force Public Relations Officer, DCP Anthony Placid
Force Public Relations Officer, Anthony Placid

Police Arrest 33 Suspects Over Kwara Church Attack

The Nigeria Police Force has confirmed the arrest of 33 suspects linked to the deadly attack on the Christ Apostolic Church, Oke Isegun, Eruku, in Kwara State, an incident earlier described as part of a wider network of terrorism, kidnapping, and armed robbery operations.

According to the Force Public Relations Officer, Anthony Placid, the suspects are part of a larger group of 50 individuals being investigated for their alleged involvement in violent crimes across the country. He said the arrests were made during coordinated, intelligence-led operations carried out since January under a broader security crackdown on criminal syndicates.

The police said the suspects are linked to the November 18 attack on the Eruku church, during which armed men stormed the worship centre, killing three worshippers and abducting 38 others in a violent raid that shocked the nation.

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A livestream video of the incident, later circulated online, showed congregants in the middle of a church service before gunshots erupted around the premises, sending worshippers into panic as the attackers invaded the building.

The incident drew national attention, prompting swift security responses and public assurances from the Federal Government. President Bola Tinubu later announced that all abducted worshippers had been rescued following coordinated security operations.

Police spokesperson Placid said several key suspects have already been prepared for prosecution, while investigations are ongoing to track down additional accomplices and recover illegal weapons believed to have been used in the attack.

He added that the operation reflects ongoing efforts by the police to dismantle organised criminal networks operating across Kwara State and neighbouring regions, particularly groups involved in kidnappings and attacks on soft targets such as religious centres.

Authorities have not yet disclosed full identities of the suspects but confirmed that they are undergoing profiling and interrogation as part of the ongoing investigation.

Security agencies say the crackdown is part of a wider national strategy to restore public confidence and prevent further attacks on churches, schools, and rural communities.

Further updates are expected as prosecutions begin and investigations continue.

Police Arrest 33 Suspects Over Kwara Church Attack

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Bandits Kidnap UNIJOS Student, Circulate Brutal Video, Demand ₦30m

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A student of the University of Jos, John Arum Azi.psd

Bandits Kidnap UNIJOS Student, Circulate Brutal Video, Demand ₦30m

A student of the University of Jos, John Arum Azi, has been abducted by armed bandits along the Jos–Zaria highway while travelling from Plateau State to Kaduna State, with the attackers later demanding a ₦30 million ransom for his release.

The 28-year-old keyboard technician was reportedly kidnapped alongside six other passengers en route to Zaria in Kaduna State. Sources said Azi was travelling after being invited by a client to repair a musical keyboard when the vehicle conveying them was intercepted by armed men.

Eyewitness accounts indicate that the attackers forced all passengers into the bush before moving them to an undisclosed location. A distressing video later circulated on social media showed Azi being violently assaulted by his captors, who used sticks and other objects to beat him while recording the act.

In the viral clip, the kidnappers reportedly forced the victim to kneel and plead with his family to urgently meet their ransom demand. The video was allegedly recorded using the victim’s phone and shared in a WhatsApp group linked to his classmates, further heightening panic among students.

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The kidnappers are demanding ₦30 million for his release, with negotiations said to be ongoing through unspecified channels. The fate of the other abducted passengers remains unclear at this time.

The incident has intensified concerns over rising kidnapping cases along Nigeria’s highways, particularly in the North-West and North-Central corridors, which have witnessed frequent attacks by armed groups in recent years.

As of the time of filing this report, the Kaduna State Police Command had not issued an official statement on the abduction. Security agencies are expected to launch or intensify search-and-rescue operations to track the victims and apprehend the perpetrators.

The case adds to growing calls for improved security along interstate travel routes, especially the busy Jos–Kaduna–Zaria axis, which has become a recurring hotspot for kidnappings.

Bandits Kidnap UNIJOS Student, Circulate Brutal Video, Demand ₦30m

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Nigerian Army Hits IPOB/ESN Hideouts in Enugu, Seizes Explosives, ₦2m

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Nigerian Army Hits IPOB/ESN Hideouts in Enugu

Nigerian Army Hits IPOB/ESN Hideouts in Enugu, Seizes Explosives, ₦2m

Troops of the Nigerian Army have intensified counterinsurgency operations in Enugu State, launching coordinated raids on suspected hideouts of proscribed Indigenous People of Biafra and its armed wing, Eastern Security Network, in a major security operation that led to the recovery of explosives, weapons, and ransom funds.

The operation, conducted under Operation EASTERN SANITY with air support from Operation UDO KA, targeted Ajali Forest in Ezeagu Local Government Area, a location identified by intelligence reports as a suspected operational base for armed criminal elements.

According to the Army, joint troops from Sector 1, supported by the Air Component, carried out a precision strike and clearance operation that forced suspected IPOB/ESN members to flee, abandoning key equipment and explosive devices.

During the raid, troops recovered an anti-tank Improvised Explosive Device (IED), which was immediately secured and neutralised by the Explosive Ordnance Disposal (EOD) team, preventing what officials described as a potential large-scale attack.

Military authorities said the successful strike demonstrated growing pressure on armed groups in the South-East, noting that sustained clearance operations have continued to dismantle suspected IPOB/ESN hideouts in Enugu forests.

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In a separate intelligence-led operation in Adani, Uzo-Uwani Local Government Area, troops of the 82 Division Garrison, acting on information provided by the Department of State Services, tracked financial movements linked to a suspected kidnapping syndicate.

The operation led to the interception of ransom money amounting to ₦2 million, alongside the arrest of a suspected kidnapper. A search of the suspect’s residence also led to the recovery of a pump-action rifle, further linking the suspect to armed criminal activity.

The Army stated that the suspect and recovered items have been handed over to relevant authorities for further investigation aimed at identifying and dismantling wider criminal networks.

“The operations have significantly degraded the operational and financial capabilities of criminal elements in the region,” the Army said, adding that continued pressure is forcing them into retreat and disorganisation.

Officials also confirmed that ongoing clearance missions, supported by intelligence and aerial surveillance, are being sustained across forested areas in Enugu and neighbouring states to prevent regrouping of armed cells.

The military reiterated its commitment to restoring security across Nigeria’s South-East, urging residents to support intelligence sharing and community vigilance as operations continue.

Nigerian Army Hits IPOB/ESN Hideouts in Enugu, Seizes Explosives, ₦2m

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