₦210bn Budget Duplication, Hidden Subsidy Expose Failure Of Tinubu’s Reforms — Atiku

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Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has accused the Tinubu administration of fiscal recklessness, saying revelations of over ₦210 billion in duplicated and overlapping allocations in the 2026 Federal Budget have undermined the government’s claims of economic reform.

In a statement issued on Saturday in Abuja by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said the budget revelations, coupled with Nigeria’s poor performance on global prosperity indicators, showed that the country’s economic challenges stem from poor leadership rather than a shortage of resources.

According to him, Nigerians were persuaded to endure the pains of fuel subsidy removal, exchange rate unification and increased taxes on the promise of long-term economic recovery, yet the government has failed to demonstrate the fiscal discipline expected of an administration demanding sacrifice from its citizens.

He argued that the discovery of duplicated budgetary provisions reflects deeper structural weaknesses in public financial management, describing the national budget as being burdened by overlapping projects, questionable insertions and wasteful spending that erode public confidence.

Atiku further alleged that the latest findings add to a growing pattern of irregularities in government spending, citing previous reports of projects allegedly assigned to agencies outside their statutory responsibilities and controversial budget insertions.

The former vice president also revisited the controversy surrounding fuel subsidy payments, claiming that the Nigerian National Petroleum Company (NNPC) Limited’s audited 2024 financial statements showed that ₦7.13 trillion was spent under “Energy Security Expenses,” which he described as a continuation of petrol subsidy payments despite the government’s declaration that the subsidy had been removed in 2023.

He said the development raised serious questions about transparency and accountability, insisting that Nigerians deserved an explanation regarding the expenditure and those responsible for approving it.

Acccording to Atiku, the recurring cases of duplication and questionable allocations indicate a systemic failure in budget discipline capable of undermining investor confidence and weakening trust in government institutions.

He maintained that while government officials continued to point to selected macroeconomic indicators as evidence of progress, many Nigerians were grappling with rising inflation, high transportation costs, business closures, unemployment and declining living standards.

“A nation cannot budget for waste and expect prosperity,” he said, arguing that fiscal indiscipline was directly contributing to Nigeria’s poor economic performance and declining prosperity rankings.

Atiku also questioned the government’s continued reliance on borrowing despite periods of improved oil prices, saying the issue was not merely the volume of debt but whether such borrowings were translating into meaningful value for citizens.

He stressed that genuine economic reforms must be accompanied by transparency, accountability and prudent management of public resources.

The ADC presidential candidate called on the National Assembly to undertake a comprehensive forensic review of the 2026 Appropriation Act, publish all duplicated allocations, identify officials responsible for the insertions and ensure the recovery of improperly appropriated funds.

He also urged the Auditor-General of the Federation, anti-corruption agencies and civil society organisations to independently scrutinise the budget and make their findings public.

Atiku pledged that an ADC administration would pursue transparent budgeting, zero-based expenditure planning, digital tracking of public spending, stronger legislative oversight and strict accountability for public officials.

HPe concluded that Nigeria’s greatest challenge was not a lack of wealth but poor management of available resources, warning that no nation could achieve sustainable development without integrity in the management of public finances.