Atiku challenges Tinubu over oil windfall borrowing and US lobbying
African Democratic Congress presidential candidate Atiku Abubakar has accused President Bola Tinubu of undertaking massive domestic borrowing despite an estimated ₦7.98 trillion (about $5.76 billion) oil‑revenue windfall from high international crude prices. Atiku said the government had already raised around ₦5 trillion from the domestic bond market in the first half of 2026 – roughly 80 % of the total borrowing in the same period of 2025 – and questioned why the finance ministry continued to issue debt when oil earnings were far above the 2026 Appropriation Act benchmark of $64.84 per barrel (Brent averaged about $92 per barrel). He demanded a full accounting of the extra revenue and asked where the money had gone.
Atiku also highlighted foreign‑lobbying activity linked to the 2027 election. US filings show that the Tinubu government paid about $9 million for a security‑focused lobbying contract, while Atiku’s own campaign hired a U.S. lobbying firm for $1.2 million to influence American officials and Congress. The ADC complained that President Tinubu gives selective attention to kidnapping victims, citing the ongoing abductions in Kwara, Zamfara and other states, and warned that security challenges remain a daily reality for millions of Nigerians.
Entities: African Democratic Congress · Atiku Abubakar · Bola Tinubu · U.S. lobbying firms (e.g., DCI Group, Aster Legal) · United States Department of Justice
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 2 SOURCES] The African Democratic Congress accused President Tinubu of giving selective attention to kidnapping victims across Nigeria. (ADC statements)
- [● 6 SOURCES] The Tinubu administration had raised about ₦5 trillion from the domestic bond market in the first half of 2026. (Atiku Abubakar statements)
- [● 2 SOURCES] The Tinubu government paid about $9 million for a U.S. security‑focused lobbying contract. (US FARA filings)
- [● 6 SOURCES] The 2026 Appropriation Act benchmarked crude oil at $64.84 per barrel while Brent averaged about $92 per barrel between 1 Mar and 14 Jul 2026. (Atiku Abubakar statements)
- [○ 1 SOURCE] U.S. lobbying filings show Atiku’s firm submitted civil forfeiture case documents involving President Tinubu to U.S. officials. (US lobbying filings)
- [● 3 SOURCES] Atiku’s campaign hired a U.S. lobbying firm for $1.2 million to influence American officials ahead of the 2027 election. (US FARA filings and Atiku statements)
- [● 2 SOURCES] President Tinubu’s spokesperson cited China’s legal standards in a defence, prompting Atiku to claim the comparison increased scrutiny of the president. (Atiku statements)
- [● 6 SOURCES] Nigeria’s oil revenue windfall from higher crude prices between 1 Mar and 14 Jul 2026 was estimated at ₦7.98 trillion (≈ $5.76 bn). (Atiku Abubakar calculations)