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Account for N7.98tn Oil Windfall – Atiku to Tinubu

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Former Vice President of Nigeria and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has criticised the Bola Tinubu administration over what he described as its unprecedented domestic borrowing despite the significant windfall accruing from high international crude oil prices.

In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku described the administration’s economic management as contradictory, opaque, and bereft of fiscal discipline.

He noted that the federal government has already raised about N5 trillion from the domestic bond market in the first half of 2026, almost 80 percent 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—the benchmark for Nigerian oil—has remained around $92 per barrel between March 1 and July 14.

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Nigerian crude, he said , typically trades at a premium above Brent, making the government’s earnings even higher. “This naturally raises two unavoidable questions,” Atiku said.

“First, why is a government enjoying such an extraordinary oil windfall borrowing at almost twice last year’s pace as though the nation were in financial distress? Second, where is the money?” he asked.

Atiku explained that the difference between the budget benchmark and prevailing oil prices amounts to an additional $27.15 on every barrel of crude sold. At an average production of 1.5 million barrels per day, he argued that Nigeria earns an estimated $42.7 million in additional revenue daily.

Over the 135-day period between March 1 and July 14, this, he pointed out, translates to approximately $5.76 billion, or about N7.98 trillion.

“Nigerians deserve a full accounting of this windfall. Where has the money gone? Why is there no transparent disclosure of the proceeds from excess crude sales? Why is the government borrowing heavily when oil revenues are significantly above budget projections?” he asked.

Atiku recalled that previous administrations maintained clear mechanisms for warehousing and reporting excess crude earnings through the Sovereign Wealth Fund and other established fiscal buffers.

“Today, Nigerians have been left completely in the dark. A government that cannot explain what it has done with an estimated N7.98 trillion in additional oil receipts has no moral authority to continue plunging the country deeper into debt,” he stated.

The former vice president further lamented that despite the huge oil windfall and the removal of fuel subsidy, millions of Nigerians continue to face worsening hardship. He noted that recent United Nations findings indicate that about 80 per cent of Nigerians cannot afford a decent meal each day, while infrastructure continues to deteriorate despite repeated promises that subsidy savings would be invested in roads, healthcare, education, and other critical sectors.

“It is increasingly evident that this administration lacks the competence, discipline, and transparency required to manage the nation’s resources. Rather than allowing Nigerians to benefit from favourable global oil prices, it has chosen the path of endless borrowing, mounting debt, and deepening poverty.

“An ADC administration under my leadership will pursue a fundamentally different approach. Every kobo earned above the budget oil benchmark will be transparently accounted for and managed under a rules-based fiscal framework.

“Rather than borrowing recklessly in the midst of plenty, we will deploy excess revenues to reduce the nation’s debt burden, strengthen our fiscal buffers, and invest strategically in infrastructure, education, healthcare, agriculture, and other productive sectors that create jobs and stimulate sustainable economic growth.

“We will restore transparency in the management of oil revenues by publishing regular reports on excess crude earnings and ensuring that public finances are subject to the highest standards of accountability.

“We will cut the cost of governance, eliminate waste, block leakages, and ensure that borrowing is undertaken only for productive investments capable of generating measurable economic returns—not to finance consumption or conceal fiscal irresponsibility.

“Nigerians deserve answers. They deserve accountability. Above all, they deserve a government that manages national wealth in the public interest, not one that presides over unprecedented opacity while asking future generations to repay debts incurred in the midst of plenty,” Atiku said.

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Group Demands Fair Share of NNPC Jobs for Ogoni Oil Exploration

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A call has gone to President Bola Tinubu, the Federal Government, the Ogoni Dialogue and Consultation (ODC) and the Nigerian National Petroleum Company Limited (NNPC Ltd) to ensure the inclusion of persons with disabilities in ongoing discussions on the future of Ogoniland.

While making the call, the Ogoni Association of Persons Living with Disabilities (OGAPWD) also demanded disability-inclusive employment opportunities and greater participation in development programmes linked to the proposed resumption of oil production in the area.

Speaking during a press briefing in Port Harcourt, OGAPWD President-General, Baridapdoo Ngo, said dialogue on Ogoniland’s future would be incomplete without the representation of persons with disabilities.

“We are not opposed to dialogue. We are not opposed to development. We oppose exclusion, discrimination and decisions that determine our future without our participation,” he said.

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Ngo urged the ODC leadership to include nominated representatives of the association in its dialogue structures and relevant committees, stressing the need for accessible meeting venues and communication support.

He said persons with disabilities should participate meaningfully in discussions on environmental remediation, employment, security and community development rather than being invited merely for ceremonial purposes.

He pointed out that “Inclusion is not charity. Representation is not a favour. Accessibility is not a privilege. These are matters of rights, dignity and equal citizenship”.

On employment, OGAPWD expressed concern over reports that NNPC Ltd was offering 40 positions connected with Ogoni engagement under the Confidence Building Measures (CBM).

The association called on the national oil company to clarify the recruitment criteria and explain how qualified applicants with disabilities were being considered.

It demanded that at least five per cent of the 40 positions be allocated to qualified Ogoni applicants with disabilities, citing Section 29 of the Discrimination Against Persons with Disabilities (Prohibition) Act, 2018.

OGAPWD also requested a formal meeting with NNPC Ltd and asked the company to respond to its concerns within 15 days.

The association said it supported a responsible and lawful resumption of oil production, provided the process prioritised environmental protection, transparency, public health and the rights of affected communities.

It further urged the Federal Government to address the demand for Bori State through the appropriate constitutional process, describing the issue as central to its position on Ogoni self-determination.

OGAPWD appealed to traditional rulers, political leaders, youth organisations and community stakeholders to ensure that persons with disabilities benefited from employment, skills acquisition, business support and other development initiatives.

The association urged the Federal Government, ODC and NNPC Ltd to take concrete steps to ensure that persons with disabilities were represented in decisions affecting Ogoniland’s political, economic and environmental future.

“Our message is simple: no exclusion in dialogue, no discrimination in employment, no development without inclusion,” Ngo said.

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200 Imo Teachers Benefit from NCDMB’s Effective Curriculum Training

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NCDMB Emerges Best MDA In Ease Of Doing Business Ranking

The Nigerian Content Development and Monitoring Board (NCDMB), has flagged off a five-day capacity building programme for 200 primary and secondary school teachers drawn from all local government areas of the state.

Themed “Empowering Teachers for Effective Curriculum Delivery through Digital Innovation, Modern Pedagogy and Professional Excellence,” the training is centred on four pillars, namely, “Digital Literacy, ICT Skills and Digital Teaching Tools” (Pillar 1); Interactive Lesson Preparation, Presentation, and Learner Engagement” (Pillar 2); “NERDC [National Educational Research and Development Council] Curriculum Alignment and Competency-based Lesson” (Pillar 3), and “Positive Classroom Management, Discipline and Learner Support” (Pillar 4).

In his opening remarks at the event, the Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe, represented by Assistant Manager, Institutional Relations and Entrepreneurship Development (IRED), in the Capacity Building Directorate (CBD) of the Board, Ms. Khadijah Jekhine, said the programme reflects NCDMB’s firm belief that sustainable Nigerian Content development begins with quality education and skilled human capital.

He described teachers as “the primary multipliers of knowledge,” adding, “When we invest in you – equipping you with digital tools, modern teaching methods, and professional excellence – we invest in thousands of young Nigerians who will become the engineers, technicians, innovators, and professionals our oil and gas industry and national economy urgently needed.”

The NCDMB boss explained that the goal of the Board is to strengthen the capacity of the teachers for effective curriculum delivery so that classroom learning becomes more practical, engaging, and aligned with the demands of the future of work. He enjoined the teachers to ensure that what they gained from the training cascades to their students, pupils and colleagues, thus raising the quality of education and building the foundation for greater indigenous participation in the oil and gas industry.

He expressed appreciation to the Imo State Government, the State Ministry of Primary and Secondary Education and all collaborating partners for the strong partnership that has made the programme possible.

The programme facilitator, Dr. Anayo Nzeribe, General Manager, R&M Networks Limited, said the intervention of the NCDMB in the educational system in the State was of inestimable value as it complements the Government’s efforts to improve access to quality education and provides essential facilities for learning and teaching.

He announced that the Board has made available digital tools and other teaching aids for distribution, that each of the 200 participants would receive a laptop and accessories, among other things. In addition, each of them would receive what he termed “a handsome stipend” at the end of the training programme on Saturday (17th October).

Dr. Nzeribe, on behalf of his company and the joyous teachers, expressed profound gratitude to the NCDMB for the initiative and assured that the tools donated would be put into adequate use to enhance teaching in the State.

READ ALSO: Showunmi Urges South-East to Judge Tinubu by Projects, Not Propaganda

The State Commissioner for Primary and Secondary Education, Professor Bernard-Thompson Ikegwuoha, represented by an official of the Ministry, Dr. (Mrs.) Benedicta Chinonye Okorie, was similarly appreciative of the contributions of the NCDMB to educational advancement in the State.

The Owerri capacity building initiative is following close on the heels of a Train-the-Trainer programme organised by the Board in Yenagoa, Bayelsa State, last month, for 88 teachers of vocational and technical schools. That programme centred on industry-relevant technical skills, digital technologies, and competency-based teaching methodologies.

On the NCDMB team at the Owerri event were the Zonal Coordinator for Imo and Abia States, Dr. Emma Ohaere, and other staff of the Owerri Liaison Office, as well as Ms. Salamatu Ibrahim, Assistant Manager, Corporate Communications Division (CCD), among others.

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EndSARS Memorial: ‘Nigerians Still Deserve Answers’ – Atiku

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PDP Threatens INEC Over Delay In Presidential Election Results

Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has said Nigerians still deserve answers six years after the October 20, 2020, EndSARS shooting at the Lekki Toll Gate in Lagos.

Atiku made this known in a statement on Tuesday marking the sixth anniversary of the incident, in which he called for accountability over the shooting and criticised the Federal Government’s handling of the unresolved questions surrounding the tragedy.

He questioned who gave the order for the operation against protesters, insisting that the country could not continue to commemorate the victims without addressing the circumstances surrounding the incident.

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Atiku also recalled President Bola Tinubu’s remarks in October 2020, when he questioned the circumstances surrounding the casualties recorded during the shooting.

Tinubu had asked: “How were they there? How long were they there? What kind of characters are they?”

According to Atiku, the remarks appeared to focus on questioning the victims rather than demanding answers from those responsible for the violence against peaceful protesters.

He said the anger surrounding the anniversary reflected the unresolved grief of affected families and the distrust of young Nigerians who had demanded accountability and a better future.

“The APC has governed Nigeria through these six years. It cannot keep asking Nigerians to remember the dead while refusing to confront the unanswered questions,” Atiku said.

The ADC presidential candidate also linked the unresolved questions surrounding the Lekki shooting to the economic hardship confronting Nigerians, particularly young people struggling with rising living costs.

Citing petrol prices of ₦1,405 per litre, Atiku said transportation costs were making it increasingly difficult for Nigerians to afford basic necessities, including food, rent, education and commuting to work.

He illustrated the situation with the account of a young woman who reportedly resigned from her job because her salary could no longer cover her transportation expenses.

According to Atiku, one of his aides shared the woman’s experience earlier on Tuesday.

The woman reportedly said: “The pay no longer covers transport. Everything in Nigeria just dey increase in price. Feels like I’m working for Bolt guys.”

Atiku described the experience as an example of the difficulties faced by employed Nigerians whose earnings could no longer adequately cover the cost of getting to work.

He argued that the economic situation was affecting not only unemployed Nigerians but also workers struggling to survive on salaries weakened by rising costs.

The former vice president also highlighted his Economic Recovery Plan, which he said was designed to make Nigeria more affordable.

The proposed measures include providing support tied to fuel refined in Nigeria, passing savings on to consumers, increasing local production to create jobs, protecting minimum-wage earners, supporting students and cutting government waste rather than imposing additional taxes.

Atiku maintained that young Nigerians deserved answers about the Lekki shooting, a government that protects human life and an economy in which employment could provide a path to a better standard of living.

He added that Nigerians were entitled to question the APC’s record on accountability and economic opportunities six years after the incident.

The EndSARS protests began in October 2020, with young Nigerians demanding an end to police brutality and reforms to policing in the country. The shooting at the Lekki Toll Gate on October 20 became one of the most prominent events associated with the protests.

 

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