Buhari admin is Robbing Our Children to Pay for Their Greed – Atiku

Nigeria’s former vice president Atiku Abubakar has taken a swipe at the Buhari administration accusing them of borrowing funds and spending it frivolously. In a series of tweets, he highlighted the serious challenges facing the Nigerian economy and advised the government to sell of the presidential fleet and stop expanding scarce resources on wasteful renovations.

See tweets:

Nothing has shocked me in my entire life in public service as the revelation from Nigeria’s First Quarter 2020 financial reports in the Medium Term Expenditure Framework and Fiscal Strategy from the Federal Ministry of Finance, Budget, and National Planning, which shows,

— Atiku Abubakar (@atiku) June 16, 2020

No one should be deceived. This is a crisis! Debt servicing does not equate to debt repayment. The reality is that Nigeria is paying only the minimum payment to cover our interest charges. The principal remains untouched and is possibly growing.

— Atiku Abubakar (@atiku) June 16, 2020

In my opinion editorial of December 17 2019, titled 'Endless Borrowing Will Lead Nigeria to Endless Sorrowing', I had cause to counsel the Federal Government to desist from indiscriminate lending, and offered suggestions on ways to both increase revenue and reduce expenditure.

— Atiku Abubakar (@atiku) June 16, 2020

As part of an administration that paid off Nigeria’s entire foreign debt, I am concerned by the alarming and avoidable unprecedented increase in our debt to GDP ratio and debt to revenue ratio. The alarm I sounded last year is now sounding louder.

— Atiku Abubakar (@atiku) June 16, 2020

As a matter of utmost urgency and importance, I call on the Federal Government to take immediate steps to drastically reduce its expenditure, especially on wasteful projects, such as maintenance of the Presidential Air Fleet,

— Atiku Abubakar (@atiku) June 16, 2020

and unnecessary renovations of buildings that could serve as is, limousine fleet for top government officials, overseas travels and treatments, and the ₦4.6billion Presidential villa maintenance budget, etc.

— Atiku Abubakar (@atiku) June 16, 2020

Nigeria must sell those planes and channel the revenue to other vital areas of need while taking additional steps to reduce the cost of running our government.

— Atiku Abubakar (@atiku) June 16, 2020

The Federal Government cannot continue to justify these unsustainable numbers by pointing at Nigeria’s debt to GDP ratio.

— Atiku Abubakar (@atiku) June 16, 2020

Again, I warn that Nigeria is facing a crisis, and we cannot continue to keep up appearances by taking out more loans to prop up our economy. That will amount not just to robbing Peter to pay Paul, but to robbing our children to pay for our greed! -AA

— Atiku Abubakar (@atiku) June 16, 2020