Bako to Atiku: Focus on misuse of loans, not borrowing volume

Kano-based political commentator Abbati Bako has published an open letter urging former Vice-President Atiku Abubakar to shift his criticism of President Tinubu's borrowing from the loan amounts to the alleged misuse of borrowed funds. Bako argues that borrowing itself isn't the problem — developed economies like the US, Japan, and the UK all rely on public debt for development.

"Your Excellency, with all respect, I beg you, do not mind the borrowing. Mind the stealing," Bako wrote. He identifies Nigeria's real issues as high borrowing costs, exchange-rate risks, lack of transparency, and diversion of public funds. Bako says loans should finance productive sectors — agriculture, manufacturing, electricity, infrastructure — not recurrent expenditure.

Ahead of the 2027 election, Bako challenges Atiku to present an alternative borrowing strategy: prioritize concessional loans, borrow in naira for domestic projects, and publish detailed information on loan-funded projects. "If you become President in 2027, you will also borrow. Do not tell Nigerians that you will not borrow. Tell them how you will borrow differently," he advised.

Bako also calls for stronger accountability to prosecute officials who steal borrowed funds regardless of party affiliation. He rejects the "beggar nation" label, arguing Nigeria has abundant resources but suffers from poor management and excessive government spending.

As the 2027 campaigns heat up, will the borrowing debate shift from "how much" to "how well" — and can voters demand transparency on every naira borrowed in their name?

SOURCE: https://dailypost.ng/2026/11/12/dont-mind-tinubus-borrowing-you-will-borrow-too-bako-tells-atiku/