Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has accused the administration of President Bola Tinubu of fiscal recklessness, alleging that the discovery of more than ₦210 billion in duplicated and overlapping allocations in the 2026 Federal Budget exposes deep flaws in the government’s management of public finances.
Atiku made the allegation in a statement issued on Saturday by his Senior Special Assistant on Public Communication, Phrank Shaibu, and sent to Naijaonpoint.
The former vice president said the alleged budget irregularities, coupled with what he described as Nigeria’s poor performance on global prosperity indicators, had stripped away what he called the propaganda surrounding the administration’s economic reforms.
According to Atiku, the country’s economic challenges stem from poor leadership rather than a lack of resources.
“For more than three years, Nigerians have been subjected to relentless hardship. They were told that fuel subsidy removal, exchange rate unification, higher taxes and rising tariffs were bitter pills that would eventually restore economic stability.
“Yet today, the same government cannot explain how more than ₦210 billion found its way into duplicated and overlapping budget provisions,” he said.
He argued that a government asking citizens to make sacrifices must first demonstrate prudence and accountability in the management of public resources.
“When a government asks its people to sacrifice, it must first demonstrate discipline. Instead, what Nigerians have seen is a budget riddled with duplication, questionable insertions, overlapping projects and expenditures that offend both common sense and fiscal responsibility,” Atiku added.
The former vice president said the latest allegations were part of what he described as a growing pattern of questionable budget practices.
He alleged that recent appropriations had contained projects outside the statutory responsibilities of some agencies, controversial insertions and expenditures that did not reflect the country’s pressing needs.
According to him, the alleged trend points to a systemic breakdown in budget discipline rather than isolated administrative mistakes.
“The national budget is the single most important economic policy document of any government. It should reflect national priorities, inspire investor confidence and assure citizens that every naira borrowed or earned will be spent wisely.
“When that document itself becomes contaminated by duplication and overlapping allocations, confidence in the entire machinery of government is undermined,” he said.
Atiku also questioned the Federal Government’s claim that fuel subsidy had been removed, citing what he described as information contained in the audited financial statements of the Nigerian National Petroleum Company Limited.
He alleged that the company’s 2024 accounts showed ₦7.13tn recorded as “Energy Security Expenses,” which he claimed represented subsidy payments under a different description.
“Nigerians were told in 2023 that subsidy was gone and were compelled to endure unprecedented hardship… Yet NNPC Limited’s own audited 2024 financial statements now reveal that a staggering ₦7.13 trillion was still expended on what it calls ‘Energy Security Expenses,’ a category the company itself identifies as petrol subsidy,” he alleged.
He called on the government to explain the expenditure and identify those who authorised it.
The ADC presidential candidate urged the National Assembly to conduct what he described as a comprehensive forensic review of the 2026 Appropriation Act.
He called on lawmakers to publish every duplicated allocation, identify those responsible for approving the provisions and recover any funds found to have been improperly appropriated.
Atiku also urged the Auditor-General of the Federation, anti-corruption agencies and civil society organisations to independently scrutinise the budget.
“The days when budget manipulation could be dismissed as mere clerical errors must come to an end. Every duplicated allocation represents a classroom not built, a hospital not equipped, a road left abandoned and a community denied development,” he said.
The former vice president said an ADC-led administration would restore credibility to Nigeria’s public finance system through transparent budgeting, zero-based expenditure planning, digital expenditure tracking, stronger legislative oversight and strict accountability for public officials.
“Nigeria’s greatest problem is not the absence of wealth. It is the absence of discipline in the management of that wealth. A government that cannot protect the integrity of its budget cannot protect the future of its people,” he said.
He concluded with an African proverb, saying, “When the owner of the barn invites goats to keep watch over his harvest, he should not be surprised when hunger follows abundance. Nigeria deserves custodians of her commonwealth, not Bourdillon caretakers of waste.”
