African Democratic Congress (ADC) presidential candidate Atiku Abubakar has questioned the Federal Government’s handling of public finances, major infrastructure contracts and payments to local contractors under President Bola Tinubu’s administration.
Atiku raised the issues in a State of the Nation address delivered on Thursday as Nigeria marked its 66th Independence anniversary. SaharaReporters reported that the former vice president used the address to challenge the government’s economic record and demand greater transparency in public spending.
A major focus of his address was Nigeria’s debt position. Atiku put the country’s public debt at N166.79 trillion as of the end of June 2026 and questioned discussions around an additional $1.5 billion World Bank loan. He argued that the government should account for how funds already borrowed had been spent before taking on further debt.
He also demanded greater disclosure over the Lagos-Calabar Coastal Highway project, awarded to Hitech, a company associated with the Chagoury Group. Atiku questioned the procurement process and called for the publication of bidding documents, evaluations, the final contract and subsequent variations. The Chagoury Group, according to SaharaReporters, had not responded to requests for comment on the issues raised.
The ADC candidate further alleged that some Nigerian contractors who had completed government projects were still awaiting payment, leaving some facing financial pressure from loans obtained to execute the jobs. He questioned why, in his view, some contractors receive major government contracts while local firms struggle to recover payments for completed work.
Atiku also criticised the administration’s budget process, pointing to the continued operation of the 2025 budget alongside the 2026 budget. He argued that overlapping budget cycles make it difficult for Nigerians to determine which projects have been funded, completed or left unpaid.
Beyond government spending, Atiku faulted the administration’s handling of the wider economy, arguing that Nigerians continue to face pressure from the cost of food, healthcare, education and electricity. His remarks came a day after President Tinubu, in his Independence Day address, said the country had moved from economic reforms towards an era of prosperity.
