Presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has challenged President Bola Tinubu to account for approximately ₦30 trillion in Federation revenues, deductions, savings, transfers and other funds he said require transparent reconciliation.
Atiku said the latest July 2026 Federation Account figures show that questions surrounding the management of the country’s revenues have continued.
The former vice-president argued that the savings and additional revenues generated following the removal of the fuel subsidy belong to Nigerians and should be accounted for publicly.
“Where is the subsidy-removal windfall?” Atiku asked.
He said the resources should have been visibly invested in transformative projects capable of improving the living standards and productive capacity of Nigerians.
Atiku said his earlier reconciliation of published Federation Account figures had identified approximately ₦28 trillion requiring explanation up to June 2026. He said the July figures have raised further questions, pushing the cumulative amount requiring proper public accounting towards ₦30 trillion.
“The question President Tinubu must answer remains painfully simple: Where is the money?” he said.
Atiku Questions July Federation Account Figures
According to Atiku, gross statutory revenue for July 2026 stood at ₦4.359 trillion, while the Federation Account Allocation Committee (FAAC) approved a total distribution of ₦3.007 trillion to the Federal Government, 36 states and 774 local government councils.
He said the figures further demonstrate the need for a comprehensive reconciliation of the revenues flowing into the Federation Account and the deductions made before funds are distributed.
“The madness continues. Month after month, trillions of naira enter the Federation accounts, and month after month enormous amounts are removed under different classifications before the balance is distributed,” Atiku said.
He argued that the cumulative amount involving Federation revenues, deductions, savings, transfers and related funds requiring reconciliation is now approaching ₦30 trillion.
Atiku challenged the administration to respond with detailed financial records rather than another statement.
“If the Tinubu administration disputes that figure, the answer is not another press statement. Publish the ledger,” he said.
Atiku Cites Previous Federation Account Figures
The former vice-president cited several figures which he said raised questions about the amounts available and subsequently distributed.
According to him, ₦2.068 trillion was reported as available revenue in January 2024, but only ₦1.149 trillion was distributed.
In June 2025, he said ₦4.232 trillion was available, while ₦1.818 trillion was shared.
By June 2026, Atiku said ₦4.501 trillion was reported as available, but only ₦2.551 trillion was distributed.
“These are not accounting footnotes. This is the wealth of the Nigerian people,” he said.
He stressed that the accounts are held by government institutions rather than the opposition, arguing that the responsibility therefore rests with Tinubu’s administration to explain what happened to the funds.
Atiku Questions Revenue and Debt Situation
Atiku described as troubling what he sees as a contradiction between the government recording increased revenues and claiming significant savings and transfers while Nigeria’s debt continues to rise.
He called on the administration to publish a month-by-month and beneficiary-by-beneficiary reconciliation of Federation revenues from June 2023 to date.
According to Atiku, the reconciliation should clearly identify the cost of collection, savings, transfers, interventions, refunds and every other deduction made from Federation revenues.
He said Nigerians had already made significant sacrifices as a result of the government’s economic reforms and should not be denied access to information about public funds.
“President Tinubu asked Nigerians to make sacrifices. Nigerians have sacrificed enough. What they cannot be asked to sacrifice is their constitutional right to know what happened to their money,” he said.
Atiku maintained that if the approximately ₦30 trillion can be properly accounted for, the administration should publish the financial records and show Nigerians where the money went.
Source: African Democratic Congress (ADC) / Atiku Abubakar
