Atiku Demands Full Disclosure of Federation Revenue, Subsidy Gains
Former Vice-President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has challenged President Bola Tinubu’s administration to publish a comprehensive record of federation revenues, deductions, savings and transfers from June 2023 to date.
Atiku, in a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, said recent Federation Account figures had raised fresh concerns about how government revenues were being managed, particularly funds linked to the removal of petroleum and energy subsidies.
According to him, his earlier review of publicly released federation account figures identified about N28 trillion that required further explanation as of June 2026. He said the July figures had increased the amount requiring transparent reconciliation to nearly N30 trillion.
For July 2026, gross statutory revenue was reported at N4.359 trillion, while the Federation Account Allocation Committee (FAAC) approved N3.007 trillion for distribution to the Federal Government, states and local governments.
Atiku argued that the difference between revenues accruing to the federation and amounts distributed required a detailed public explanation, including the deductions, transfers and other classifications applied before allocation.
He cited previous figures, including N2.068 trillion reported as available revenue in January 2024, when N1.149 trillion was distributed. He also referenced N4.232 trillion reported in June 2025, against N1.818 trillion distributed, and N4.501 trillion recorded as available in June 2026, with N2.551 trillion distributed.
The former vice-president said the figures represented public resources and should therefore be subject to full transparency.
Atiku Questions Subsidy-Removal Gains
Atiku also demanded clarification on the financial benefits generated by the removal of petroleum and energy subsidies.
He said Nigerians had been asked to endure the economic difficulties caused by the reforms on the understanding that savings and increased revenues would eventually be channelled into development and other public benefits.
He questioned why the government was continuing to borrow heavily if substantial savings from the reforms were being accumulated.
Atiku asked the administration to disclose whether the funds had been saved, transferred or spent, and to identify the beneficiaries and purposes for which the money was used.
He called for a month-by-month and beneficiary-by-beneficiary reconciliation of federation revenues covering the period from June 2023.
According to him, every deduction from federation revenues should be accompanied by details of the amount involved, beneficiary, purpose, date, destination and legal authority.
Atiku maintained that transparency required government to open its financial records to public scrutiny rather than simply assigning labels to large sums of money.
He said Nigerians had made significant sacrifices under the economic reforms and deserved a clear account of how the resulting public revenues and savings were being managed.
“If the approximately N30 trillion is properly accounted for, President Tinubu should publish the ledger and show Nigerians where every naira went,” he said.
