“It’s a Racket” Atiku Blasts Tinubu’s Plan to Raise Another N4 Trillion for Power Sector Debts.

Former Vice President Atiku Abubakar has strongly criticized President Bola Tinubu’s latest proposal to raise a N4 trillion bond to clear debts in the electricity sector, calling it a shocking display of financial irresponsibility.

In a statement released on Sunday by his spokesperson, Phrank Shaibu, Atiku said Nigerians have every reason to be angry over what he described as a troubling cycle of borrowing, empty promises, and lack of transparency under the current administration.

The controversy began after President Tinubu, during his Democracy Day speech, announced plans to raise the massive bond to settle lingering debts in the power sector.

But Atiku fired back, arguing that no serious government would keep collecting funds to fix the same problem without ever explaining what happened to the money raised earlier.

“Democracy is not just about big announcements it’s about accountability. While the government celebrates a new solution, it refuses to explain what went wrong with the old one. What happened to the previous funds?” Atiku asked.

He added, “There’s a name for repeatedly taking money to solve the same problem while the problem remains unsolved it’s called a racket.”

Atiku’s remarks have added to growing concerns among Nigerians over the government’s borrowing practices and the lack of visible results in the power sector.