Atiku questions government on oil revenue and rising debt
Atiku Abubakar has called on the Federal Government to explain the fate of an estimated ₦7.98tn oil revenue windfall. He criticised the administration led by Bola Tinubu for continued heavy borrowing despite higher-than-expected crude oil earnings. Atiku argued that Nigerians deserve full transparency on how these excess funds are managed. He also promised a more accountable approach if elected in the upcoming general election.
Key takeaways
- Atiku Abubakar challenged the government to account for an estimated ₦7.98tn in additional oil revenue, questioning the need for massive domestic borrowing.
- He stated that about ₦5tn has already been raised from the domestic bond market in the first half of 2026, nearly 80% of what was borrowed in the same period in 2025.
- Atiku criticised the lack of transparency in managing excess oil earnings and noted that previous administrations maintained mechanisms like the Sovereign Wealth Fund.
- He cited United Nations findings that about 80% of Nigerians cannot afford a decent meal daily, despite government promises to invest savings from subsidy removal in critical sectors.
- Atiku pledged that under his leadership, excess oil receipts would be used to reduce debt, strengthen fiscal reserves, and fund infrastructure, healthcare, education, and agriculture.
