Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has accused the Tinubu administration of fiscal recklessness, alleging that more than ₦210 billion in duplicated and overlapping allocations in the 2026 Appropriation Act exposes deep flaws in the management of public finances.
In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said the alleged duplications, alongside claims that the Federal Government continued to fund petrol subsidy under a different name despite announcing its removal, had undermined the credibility of the administration’s economic reforms.
According to him, the audited 2024 financial statements of the Nigerian National Petroleum Company (NNPC) Limited showed that ₦7.13 trillion was spent on what the company described as “Energy Security Expenses,” which he argued amounted to fuel subsidy payments.
He claimed that Nigerians were told subsidy had been removed in 2023 and were made to endure rising fuel prices, inflation and worsening living conditions, while subsidy payments allegedly continued under a different classification.
“The subsidy was not eliminated; it was merely repackaged, renamed and quietly charged against the Federation. A government that conceals ₦7.13 trillion behind a convenient euphemism while demanding sacrifice from millions of struggling citizens cannot claim the moral authority to preach reform,” Atiku said.
The former vice president said the alleged budget duplications pointed to a broader breakdown in fiscal discipline, arguing that the national budget should reflect transparency, accountability and prudent management of public resources.
He also linked the alleged irregularities to what he described as Nigeria’s declining performance on global prosperity indicators, saying ordinary Nigerians continued to grapple with rising living costs, unemployment, business closures and insecurity despite the government’s reform agenda.
Atiku alleged that recent budget controversies, including duplicated projects, overlapping allocations and expenditures outside the statutory mandates of some government agencies, reflected systemic weaknesses rather than isolated administrative errors.
He called on the National Assembly to conduct a comprehensive forensic review of the 2026 Appropriation Act, identify all duplicated allocations, determine those responsible for approving them and ensure that improperly appropriated funds are recovered.
The ADC presidential hopeful also urged the Auditor-General of the Federation, anti-corruption agencies and civil society organisations to independently scrutinise the budget and make their findings public.
According to him, an ADC-led administration would prioritise transparent budgeting, zero-based expenditure planning, digital tracking of public expenditure, stronger legislative oversight and stricter accountability for public officials entrusted with managing taxpayers’ funds.
Atiku maintained that Nigeria’s challenge was not a shortage of resources but the quality of their management, insisting that sustainable economic reforms must be accompanied by transparency, fiscal discipline and accountability.