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Atiku Tasks Tinubu to Explain N166.79tr Debt, Apologise over Hardship

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Former Vice President Abubakar has asked President Bola Tinubu to give a full account of Nigeria’s borrowing and debt profile and address the hardship faced by Nigerians following the removal of the fuel subsidy.

Atiku said this in a statement issued by Phrank Shaibu, Director of Strategic Communications of the African Democratic Congress (ADC) Presidential Campaign Council.

He said after more than three years of reforms, Nigerians are facing higher food, transport and energy bills, with public debt recorded at N166.79 trillion as at June 30, 2026, according to the Debt Management Office (DMO, compared to N49.85 trillion in March 2023.

“A government that says more money is coming in must explain why it keeps borrowing and why the people paying for its policies cannot see the promised gains,” Atiku said.

The ADC presidential candidate asked the President to identify old debt newly recorded, foreign debt whose naira value rose with the exchange rate, and every new loan contracted since assumption of office, as well as what has been repaid and outstanding.

Atiku said the debt question cannot be separated from the lived reality of ordinary Nigerians, noting that while government reports improving macroeconomic outcomes, many citizens struggle with the cost of living.

He said the true test of economic policy is whether Nigerians can afford food, transportation, housing, education, healthcare and electricity.

He cited an IMF assessment in June 2026, which said reforms improved macroeconomic outcomes but acknowledged conditions remained difficult, estimating poverty at 63 per cent under the national poverty line and saying 27 million Nigerians faced food insecurity in the latter part of 2025, with a warning that higher fuel, food and transport costs could worsen poverty.

He also cited recent fuel price pressures, with petrol selling around N1,400 per litre in Lagos and Abuja and as high as N1,500 in parts of northern Nigeria in September, while diesel exceeded N2,000 per litre.

Atiku said the cost of servicing debt has become a major concern, citing BudgIT report that  quarter of 2025, debt service reached N12.52 trillion against N18.63 trillion revenue — 67.2 per cent.

He noted the 2026 fiscal framework provides for about N68.32 trillion expenditure against projected revenue of N36.87 trillion, leaving deficit of roughly N31.45 trillion.

He recalled President Tinubu’s remarks at Africa Forward Summit in Nairobi in May that Nigeria expected to spend about $11.6 billion on debt service in 2026, describing the amount as nearly half of projected revenue.

Atiku also demanded disclosure concerning DMO’s external debt-service schedule for second quarter of 2026, where $39.25 million was recorded as ‘other charges’ between April and June 2026, including $22.5 million against First Abu Dhabi Bank Total Return Swap and about $8.97 million against Deutsche Bank AG.

He asked for clarification on what the $22.5 million charge was for, which agreement authorised it, original facility, how much was drawn and obligations outstanding.

He also asked for reconciliation of Treasury Bill borrowing, noting DMO reported N19.48 trillion outstanding Nigerian Treasury Bills at 30 June 2026, and urged the government to publish what subsequently matured, redeemed, rolled over and what constituted new borrowing.

Atiku said the administration should apologise to families facing hardship and account for revenues and borrowing.

“An apology is not too much to ask from a government under whose watch many Nigerians have been pushed into deeper economic distress,” he said.

“Good economics must ultimately improve human life. If government revenue rises while families become poorer, Nigerians have right to demand full account.”

  • He urged the Federal government to reconcile borrowing, explain charges, show what sacrifice has produced and focus on making life affordable.
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Wike Begins Money-for-Vote Campaign, Dangles N10m Bounty for Abuja Councillors to Reelect Tinubu

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Minister of the Federal Capital Territory, Nyesom Wike, has introduced what observers view as a novel dimension to Nigeria’s electoral process as he sensationally promised a N10 million cash reward to every councillor who “delivers” his ward for President Bola Tinubu and All Progressives Congress candidates at the 2027 general election.

Wike made the declaration at a Rainbow Coalition stakeholders’ meeting in Kwali Area Council, attended by traditional rulers, political stakeholders and residents.

The minister, according to Channels TV, urged councillors to mobilise residents and community groups to guarantee victory for the APC in their wards, attaching a price tag to electoral success.

“Any councillor that delivers his ward will get N10 million reward. Therefore, go and meet your leaders, go and meet your youth groups, go and consult with associations. Let’s deliver our ward to Mr President,” Wike reportedly announced.

The statement has triggered concerns over vote-buying, inducement of grassroots officials and the weaponisation of public office to compromise the 2027 polls.

Critics argue that dangling N10 million per ward to elected councillors blurs the line between legitimate mobilisation and financial inducement, reducing the election to a transactional contest where delivery is rewarded in cash.

With months to the general elections, the promise raises fresh questions about whether the will of voters will count, or whether wards will be delivered through coercion, compromise and cash.

Observers warn that when councillors – the closest elected officials to the people – are placed on a bounty, the stage is set for intimidation of opponents, manipulation of results and rigging at the polling unit level.

The development is being seen as part of a growing pattern of desperation within the political class to secure victory at all costs, even if it means monetising the electoral process and compromising its integrity before the first ballot is cast.

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No Automatic Senate President Return for Akpabio, Says APC Chair

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The National Chairman of All Progressives Congress (APC), Professor Nentawe Yilwatda, has declined to endorse Senate President, Godswill Akpabio, for another term as head of the National Assembly ahead of the 2027 general elections.

Yilwadta said he has no preferred candidate for the position, insisting that the decision would rest entirely with senators elected into the next National Assembly.

He made the remarks on Monday during an appearance on Channels Television’s Politics Today programme.

Asked whether the APC would return Akpabio as Senate President if he wins re-election, Yilwatda responded: “Let’s wait for the election first. I don’t have anybody in mind. The Senate will determine who they want to make the Senate President.”

His response comes despite growing support for Akpabio’s bid to retain the position beyond the current legislative term.

In October, senators publicly backed Akpabio’s return as President of the 11th Senate, with some lawmakers declaring that there would be no vacancy in the position.

Akpabio, who has led the Senate since June 2023, is seeking another term in the National Assembly.

However, Yilwatda’s remarks suggest that the APC leadership is not publicly committing itself to any candidate for the Senate presidency before the elections.

The Senate President is elected by members of the upper legislative chamber, meaning Akpabio would still need the support of his colleagues to retain the position even if he wins re-election.

During the same interview, Yilwatda also defended President Bola Tinubu’s physical fitness ahead of the 2027 presidential election and accused opposition parties of relying on blackmail during political campaigns.

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2027: You’ll Suffer for Treachery Against Obi, Sen Umeh Warns Soludo

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The Senator representing Anambra Central, Victor Umeh, has warned Governor Chukwuma Soludo not to commit treachery against the Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, in the name of politics.

Umeh pointedly warned Soludo that his unwarranted attacks on Peter Obi would lead to a fight.

The lawmaker issued the warning while speaking at an unnamed gathering in the State, which was captured in a viral video.

Umeh unapologetically said any Igbo person who refuses to vote for Obi is an enemy of the race.

“People are saying that we have to support another person; if we do that, we are destroying ourselves. I’m an Igbo activist, and you can hear my voice in the Senate on all issues of national importance and particularly those that affect the Igbo.

“Peter is our conscience in this election. Any Igbo man who stands up to say we will not vote for Peter Obi is an enemy of the Igbo people, no matter who the person is.

“Nobody can try it here; I have been hearing a lot of things going on in this State. This government; I helped in installing it; nobody came here to be Governor of Anambra State since 2003 without my input. This one that his serving; I was a principal contributor to his ascending that office; he is holding that office in trust for all of us.

“Anything he does in that office, he must discharge it with honour and nobility, and it’s not by sabotaging our own brother.

“I’m saying it so that anybody who sees him can tell me that we don’t want to fight, but he should not commit what is called an abomination by wanting to destroy his brother in the name of politics.

“Nobody on the side is saying support Peter Obi. Everybody on the other side is saying support Tinubu. But we are saying let us stand for the truth. Peter Obi; this is the time, and if he makes it, the Igbo have made it.”

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