African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, on Sunday, criticised President Bola Tinubu’s administration over its “unprecedented domestic borrowing” despite the significant windfall accruing from high international crude oil prices.
Atiku described the administration’s economic management as contradictory, opaque, and bereft of fiscal discipline.
In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu,
Atiku noted that the Federal Government has already raised about N5 trillion from the domestic bond market in the first half of 202, “almost 80 per cent of the total amount borrowed during the corresponding period in 2025.”
According to Atiku, such aggressive borrowing would only be understandable if government revenues had collapsed.
“The exact opposite is the case,” he said.
The former Vice President pointed out that while the 2026 Appropriation Act benchmarked crude oil at $64.84 per barrel, the average price of Brent crude,
