Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), has accused the Federal Government of reckless borrowing despite a windfall in oil revenue. In a statement, Atiku said the administration of President Bola Tinubu has continued to pile up domestic debts even as crude oil prices have soared above the benchmark used for the 2026 budget. He noted that the government borrowed N24.7 trillion domestically between January and August 2026, a 90.5% increase over the same period in 2025. Atiku described the scale of borrowing as unprecedented, given that the budget was based on an oil benchmark of $64.85 per barrel, while current prices are higher.
Related Articles
Don't miss out on breaking stories and in-depth articles.