Former Vice-President Atiku Abubakar has called on President Bola Tinubu’s administration to disclose how it intends to use a $5bn loan referenced in a BusinessDay report.
Atiku’s intervention centres on the deployment of the borrowed funds. According to the report, he challenged the administration to provide answers about how the money would be spent.
The limited information available does not identify the lender, the currency composition beyond the stated dollar value, the borrowing terms or whether disbursement has occurred. It also does not state which ministries, programmes or projects could receive the funds.
It is equally unclear from the supplied evidence whether the loan has completed all required approval processes. No timetable for its use, repayment details or itemised allocation was provided.
The evidence also contains no response from Tinubu or other federal government officials to Atiku’s demand. As a result, the administration’s position on the request for disclosure is not yet known from the material supplied.
Further official information would be needed to establish the loan’s status and intended uses, as well as whether any of the borrowed money has already been committed or spent.