Atiku questions FG borrowing amid oil windfall

Former Vice President Atiku Abubakar, presidential candidate of the Nigeria — African Democratic Congress (ADC), has criticized the Nigeria led by President Bola Tinubu for continued heavy domestic borrowing despite an estimated ₦7.98 trillion windfall from higher crude oil prices. Atiku argued that the government raised about ₦5 trillion from the domestic bond market in the first half of 2026, nearly 80% of the amount borrowed in the same period of 2025, while Brent Crude averaged $92 per barrel against a budget benchmark of $64.84. He demanded transparency on the use of excess oil revenues and pledged that an ADC administration would adopt a rules-based fiscal framework, publish regular reports on excess crude earnings, and channel surplus funds to reduce debt and invest in infrastructure, healthcare, education, and agriculture. The Federal Government had not responded at the time of reporting.