Electricity: Tinubu’s plan to raise N4tn power sector bond racket – Atiku

Former Vice President Atiku Abubakar has faulted the President Bola Ahmed Tinubu-led Federal Government’s latest plan to raise another bond to settle debts in the power sector.

Atiku described the plan as a scandalous display of fiscal recklessness.

He disclosed this in a statement issued on Sunday by his spokesperson, Phrank Shaibu.

Recall that President Tinubu, in his Democracy Day message, said his administration plans to raise a N4 trillion bond to tackle legacy power sector debt.

Reacting, Atiku noted that Nigerians have every right to be outraged by what is fast becoming a recurring cycle of borrowing, deception, and non-disclosure under the Tinubu administration.

According to him, no government acting in good faith can repeatedly raise funds to solve the same problem while refusing to account for previous funds raised for the very same purpose.

“Yet, before the applause from that announcement could die down, Nigerians were confronted with the uncomfortable reality that previous debt-clearing bonds remain shrouded in unanswered questions. Democracy is not sustained by grand declarations; it is sustained by accountability. A government cannot celebrate a new solution while refusing to explain the fate of the old one. The irony is striking: on a day set aside to honour democratic accountability, Nigerians were presented with yet another borrowing proposal for the same problem that previous borrowings supposedly addressed.

“This raises a simple question that the Tinubu administration appears unwilling to answer: What happened to the money?

“The Nigerian people are counting, and what they are seeing does not add up.

“There is a name for repeatedly collecting money to solve the same problem while the problem remains unsolved. It is called a ‘racket’,” Atiku stated.

Electricity: Tinubu’s plan to raise N4tn power sector bond racket – Atiku