Atiku Abubakar Questions FG on Oil Revenue Windfall

Atiku Abubakar, the former Vice President and presidential candidate of the African Democratic Congress, has called on the Nigerian Federal Government to clarify the handling of an estimated ₦7.98tn oil revenue windfall. In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku questioned the government's decision to engage in significant domestic borrowing despite benefiting from crude oil prices well above the 2026 budget benchmark.

He noted that the government raised about ₦5tn from the domestic bond market in the first half of 2026, which is nearly 80% of the amount borrowed during the same period in 2025. Atiku highlighted the inconsistency between high oil revenues and increased borrowing, demanding accountability for the excess funds.

He pointed out that the gap between the budget benchmark and actual oil prices resulted in an additional revenue of approximately $5.76bn, or ₦7.98tn. Atiku criticized the lack of transparency in managing these revenues and expressed concern over the adverse living conditions of Nigerians despite higher oil earnings.