Atiku Asks FG to Explain Alleged ₦7.98tn Oil Windfall, Questions Rising Borrowing
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Atiku Asks FG to Explain Alleged ₦7.98tn Oil Windfall, Questions Rising Borrowing
By Mohammed Ibrahim Abdullahi
Former Vice President and African Democratic Congress presidential candidate, Atiku Abubakar, has challenged the Federal Government to account for what he described as an estimated ₦7.98tn oil revenue windfall, questioning the country’s fiscal management despite sustained high global crude oil prices.
Atiku, in a statement, argued that international crude oil prices had consistently traded above the benchmark adopted in the 2026 Appropriation Act, a development he said should have translated into significantly higher government earnings from oil exports.
The former vice president expressed concern that despite the alleged increase in oil revenue, the Federal Government had continued to rely heavily on domestic borrowing to finance its obligations.
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According to him, the disconnect between higher-than-projected oil earnings and the country’s rising debt profile raises questions about transparency, accountability and prudent management of public resources.
He called on the relevant government agencies to provide Nigerians with a comprehensive account of how the alleged ₦7.98tn windfall had been utilised.
Atiku maintained that citizens deserved full disclosure of the nation’s revenue inflows, particularly at a time when many Nigerians were facing rising inflation, high living costs and other economic hardships.
He added that greater fiscal transparency would strengthen public confidence in government institutions and improve accountability in the management of public finances.
