Former Vice-President Atiku Abubakar has criticised the Federal Government's continued domestic borrowing, questioning why the administration is raising debt despite what he describes as an estimated N7.98 trillion windfall from oil prices trading well above the 2026 budget benchmark.
In a statement issued by his aide, Phrank Shaibu, Atiku said the government had already raised about N5 trillion from the domestic bond market in the first half of 2026, nearly 80 percent of the total borrowed over the same period last year. "Nigerians deserve a full accounting of this windfall. Where has the money gone?" he asked, calling for transparent disclosure of proceeds from excess crude sales.
The Presidency has rejected the claim. Special Adviser to the President on Information and Strategy, Bayo Onanuga, dismissed Atiku's analysis as "deficient," insisting no such oil windfall exists and challenging the former vice-president to provide evidence for his figures.