Atiku Questions Tinubu on Borrowing Amid Oil Windfall

Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), has raised concerns regarding the Federal Government's ongoing borrowing despite a substantial financial windfall from elevated global crude oil prices. In a statement released on Sunday by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku called on President Bola Tinubu to clarify the expenditure of additional oil revenue.

He criticized the Tinubu administration for poor economic management and fiscal indiscipline, noting that the government borrowed approximately ₦5 trillion from the domestic bond market in the first half of 2026, nearly 80% of the total borrowed during the same period in 2025. Atiku pointed out that while the 2026 budget was based on an oil benchmark of $64.84 per barrel, Brent crude averaged about $92 per barrel, leading to an estimated additional revenue of $5.76 billion over 135 days.

He demanded accountability for the estimated ₦7.98 trillion in additional oil receipts, questioning the lack of transparency in the government's financial disclosures.