Nigeria Power Sector Debt Controversy

Former Vice President Atiku Abubakar has accused the Nigerian Federal Government, led by President Bola Tinubu, of fiscal recklessness and a 'racket dressed up as reform' in its handling of the power sector's mounting debts. Atiku criticized the government's repeated borrowing to settle these debts, including a proposed N4 trillion bond, while allegedly failing to account for previously raised funds like a N590 billion bond in December 2025, a N501 billion bond shortly after, and a N3.3 trillion plan in April 2026. The Association of Power Generation Companies has corroborated these concerns, stating that significant debts remain unpaid despite these interventions. Atiku demands full public disclosure and accountability before any new bonds are issued, highlighting the negative impact on ordinary Nigerians through poor power supply and rising energy costs.