Atiku Challenges Tinubu Over ₦166.79tn Public Debt, Demands Full Account

Atiku Challenges Tinubu Over ₦166.79tn Public Debt, Demands Full Account

Atiku Challenges Tinubu Over ₦166.79tn Public Debt, Demands Full Account.

Former Vice-President Atiku Abubakar has challenged President Bola Tinubu to explain why Nigeria’s public debt has risen to ₦166.79 trillion despite increased government revenue.

Atiku made the demand in a statement issued by Phrank Shaibu, Director of Strategic Communications of the African Democratic Congress (ADC) Presidential Campaign Council. He cited figures from the Debt Management Office (DMO), which put Nigeria’s total public debt at ₦166.79 trillion as of June 30, 2026.

The former vice-president said the debt figure should be reconciled in detail, including previously unrecorded obligations, the effect of exchange-rate changes on foreign debt, new loans contracted since 2023, repayments and outstanding balances. He also questioned the status of Nigerian Treasury Bills and called for greater transparency over what was genuinely new borrowing.

Atiku further questioned $39.25 million listed as “other charges” in the DMO’s second-quarter 2026 external debt-service schedule. According to him, the amount included a $22.5 million charge linked to a First Abu Dhabi Bank Total Return Swap and about $8.97 million against Deutsche Bank AG. He asked the government to explain the purpose, authorisation, original facility, amount drawn and outstanding obligations associated with the transaction.

He also argued that Nigerians have continued to face higher costs of food, transportation, electricity and other basic needs following the government’s economic reforms. Atiku said the administration should explain how increased government revenue and continued borrowing are translating into tangible improvements in citizens’ living conditions.

Atiku said Nigerians deserve a full account of the country’s borrowing, debt-servicing obligations and the benefits expected from the government’s economic policies. The DMO published its latest total public debt figures on September 25, 2026.

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Former Vice-President Atiku Abubakar has challenged President Bola Tinubu to explain why Nigeria’s public debt has risen to ₦166.79 trillion despite increased government revenue.

Atiku made the demand in a statement issued by Phrank Shaibu, Director of Strategic Communications of the African Democratic Congress (ADC) Presidential Campaign Council. He cited figures from the Debt Management Office (DMO), which put Nigeria’s total public debt at ₦166.79 trillion as of June 30, 2026.

The former vice-president said the debt figure should be reconciled in detail, including previously unrecorded obligations, the effect of exchange-rate changes on foreign debt, new loans contracted since 2023, repayments and outstanding balances. He also questioned the status of Nigerian Treasury Bills and called for greater transparency over what was genuinely new borrowing.

Atiku further questioned $39.25 million listed as “other charges” in the DMO’s second-quarter 2026 external debt-service schedule. According to him, the amount included a $22.5 million charge linked to a First Abu Dhabi Bank Total Return Swap and about $8.97 million against Deutsche Bank AG. He asked the government to explain the purpose, authorisation, original facility, amount drawn and outstanding obligations associated with the transaction.

He also argued that Nigerians have continued to face higher costs of food, transportation, electricity and other basic needs following the government’s economic reforms. Atiku said the administration should explain how increased government revenue and continued borrowing are translating into tangible improvements in citizens’ living conditions.

Atiku said Nigerians deserve a full account of the country’s borrowing, debt-servicing obligations and the benefits expected from the government’s economic policies. The DMO published its latest total public debt figures on September 25, 2026.