The Arewa Professionals for Democracy and Development (APDD) has berated former Vice President, Atiku Abubakar, for criticizing the fresh $2.2 billion loan sought by President Bola Tinubu.
DAILY POST reports that the $2.2 billion loan request, which was faulted by several Nigerians, was approved by the National Assembly on Thursday.
Atiku, the presidential candidate of the Peoples Democratic Party, PDP, in the 2023 election, had slammed Tinubu for seeking the fresh loan, noting that recent loans taken by the President have become a big burden for Nigerians.
Alleging that the loans are not being properly utilized, Atiku warned that they will place unbearable strain on the economy.
He said, “These Tinubu’s loans are bone-crushing for Nigerians and are bringing insufferable pressure on the economy, especially when they are not properly negotiated or utilised.”
However, the Arewa Professionals for Democracy and Development, APDD, on Saturday hit out at Atiku, berating the former vice president over his criticism of the loan request.
In a statement signed by its President, Engr. Moses Odaudu, APDD condemned Atiku’s claim that the loan will be embezzled.
According to APDD, while it is important to scrutinise government actions, it is equally vital to consider the broader context and potential benefits of the loans.
The statement said, “He (Atiku) blatantly trivialised the strategic intent behind the loans by asserting that they are “bone-crushing” and bring “insufferable pressure” on the economy whereas when properly managed and invested in critical infrastructure and development projects, the loans can stimulate economic growth, create jobs, and improve public services.
“We believe what Atiku did was to project his value on the incumbent government with the implication that he concluded the loans would be embezzled because that is what would have happened if he were the President.
“This is even as President Tinubu has assured that his government will ensure transparency and accountability in using these funds, which should have been Atiku’s focus instead of the infantile tantrums he threw in the public opinion space.
“This is why we ask the former vice president to differentiate between constructive criticism aimed at improving governance and baseless accusations that can undermine public trust in Nigeria.”
APDD added that Atiku’s criticism overlooked the complexities of international finance and the strategic decisions involved in securing favourable terms of borrowing, which caused him to dwell on the comparison of exchange rates while suggesting that the loans are poorly negotiated.
The group said Atiku was being mischievous by denying the Tinubu administration’s efforts to boost revenue collection through reforms in the Federal Inland Revenue Service (FIRS) and Customs as part of a broader strategy to enhance fiscal stability.
The APDD accused Atiku of playing politics on the issue, and in the same vein advised him to drop his presidential ambition and quit politics.
The statement said, “In his desperate drive for public validation, it is tragic that Atiku unashamedly references something that should be forgotten by saying the administration of President Obasanjo, under which he was vice president, took the country out of foreign indebtedness, without telling Nigerians the truth.
“We challenge Atiku to deny that he was not a beneficiary of the commission on the loan repayment shared by Obasanjo’s economic team, which the former vice president once falsely claimed to have headed.
“We conclude by urging Alhaji Atiku Abubakar to accept that the trauma of serial loss at the polls and his advanced age imply that he no longer possesses the mental acuity he had for analysing national issues a couple of decades ago.
“Atiku must thus admit to himself that it is time to quit politics and refrain from intervening in national issues so that he does not allow his diminished capacity to lead some Nigerians astray.”
Arewa Professionals knock Atiku for criticizing Tinubu’s $2.2bn foreign loan
