Atiku Abubakar criticizes federal government's N4tn power sector bond, demands accountability

Through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku described the government's plan to raise a N4tn bond for electricity sector obligations as a "scandalous display of fiscal recklessness, institutional dishonesty, and brazen contempt for public accountability." He questioned the whereabouts of prior funds, citing instances like a N590bn power sector bond in December 2025, another N501bn bond, and President Tinubu's approval of a N3.3tn plan in April 2026 to clear power sector debts. Atiku highlighted that the Association of Power Generation Companies has publicly stated that these debts remain largely unpaid, with its Chief Executive Officer, Joy Ogaji, noting that a N501bn bond raised for debt settlement has not resulted in payments to creditors.

He emphasized that accountability, not repeated announcements, should define government performance and called for a comprehensive breakdown of all funds raised under various debt-settlement arrangements, including how much was raised, where funds were domiciled, who received payment, and why fresh borrowing is necessary. Atiku warned against further borrowing without transparency, stating that "no serious nation can continue to borrow its way into darkness."