Don't thoughts Tinubu's borrowing, you’ll do identical too – Bako tells Atiku

A Kano-based political commentator, Abbati Bako, has urged former Vice-President Atiku Abubakar to focus his criticism of President Bola Tinubu’s borrowing on the alleged misuse of funds relatively than the quantity of loans obtained by the Federal Government.

In an open letter to Atiku, Bako argued that borrowing was not inherently flawed, noting that developed economies such because the United States, Japan and the United Kingdom additionally relied on public debt to finance growth.

“Your Excellency, with all respect, I beg you, do not mind the borrowing. Mind the stealing,” he wrote.

The former Kano State Independent Electoral Commission, KANSIEC, commissioner argued that Nigeria’s main issues have been the excessive price of borrowing, exchange-rate dangers, lack of transparency and alleged diversion of public funds.

He stated Nigeria ought to borrow to finance productive sectors resembling agriculture, manufacturing, electrical energy and infrastructure relatively than recurrent expenditure.

Bako additionally urged Atiku to current an alternate borrowing technique forward of the 2027 presidential election, together with prioritising concessional loans, borrowing in naira for home initiatives and publishing detailed details about loan-funded initiatives.

“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 suggested.

He additional known as for stronger accountability measures to make sure that public officers discovered responsible of stealing borrowed funds have been prosecuted no matter their political affiliations.

Bako additionally disagreed with the outline of Nigeria as a beggar nation, arguing that the nation possessed plentiful pure assets however suffered from poor administration and extreme authorities expenditure.

“Borrowing is not sin. Borrowing to steal is sin. Borrowing to waste is sin,” he said.

He stated he would help any administration that used borrowed funds to enhance infrastructure, create jobs and strengthen the financial system, no matter whether or not it was led by Tinubu or Atiku.