Atiku Abubakar Condemns Tinubu Administration Over World Bank Fiscal Findings
Former Vice President Atiku Abubakar has issued a strong rebuke against the government of President Bola Ahmed Tinubu in response to a recent World Bank report that uncovered significant fiscal irregularities in Nigeria's revenue management. Atiku characterized the revelations as profoundly disturbing and unacceptable, highlighting a critical gap between increasing government earnings and the diminishing welfare of the populace.
Allegations of Systemic Corruption and Financial Opacity
In a statement released by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku asserted that the World Bank's analysis points to a system rife with abuse, leakage, and potential diversion of public funds. He specifically accused the Tinubu administration of maintaining an opaque financial framework that facilitates systemic corruption, thereby undermining transparency and accountability.
"What the World Bank has revealed is both alarming and unacceptable," Atiku declared. "Nigeria is earning more revenue today, yet the Nigerian people are receiving less benefit from it. This contradiction points not just to inefficiency, but to a system vulnerable to abuse, leakage, and possible diversion of public funds."
Excessive Deductions and Reduced Governance Funds
Atiku further elaborated that excessive deductions from national revenue, conducted prior to distribution through the Federation Account, have drastically curtailed the financial resources available for governance and developmental projects across all government tiers. He warned that such practices, carried out without comprehensive legislative oversight, create an environment conducive to unaccounted spending and financial recklessness.
"When large portions of national income are deducted at source, outside full legislative scrutiny, it creates fertile ground for opacity, unaccounted spending, and financial recklessness," he added. "That is how nations lose track of their own wealth."
Visible Consequences and Moral Implications
The former vice president cautioned that the repercussions of these fiscal mismanagements are already evident in declining investments in crucial sectors and deteriorating living conditions for citizens. He emphasized that this issue transcends mere technical fiscal concerns, representing a profound moral dilemma for the government.
"This is not just a technical fiscal issue; it is a moral one," Atiku stated. "A government cannot ask citizens to endure painful economic reforms while the gains are trapped in a system that lacks transparency and accountability."
Calls for Urgent Structural Reforms
Aligning with the World Bank's recommendations, Atiku advocated for immediate structural reforms to address these systemic flaws. His proposed measures include:
- Incorporating all agency funding within the formal budgetary process
- Reviewing and reducing cost-of-collection mechanisms
- Empowering the National Assembly to exercise comprehensive oversight over every naira earned by the country
"All agency funding must be captured within the budget," he insisted. "Cost-of-collection mechanisms should be reviewed and reduced, while the National Assembly must exercise full oversight over every naira earned by the country."
Warning on Nigeria's Economic Trajectory
Atiku concluded with a stark warning about Nigeria's current economic path, stressing that the coexistence of rising government revenues with escalating poverty levels raises serious questions about the actual destination of public funds.
"We cannot continue on a path where rising revenues coexist with deepening poverty," he cautioned. "When the books are full but the people are empty, it raises serious questions about where the money is truly going. The purpose of governance is not to accumulate figures, but to improve lives—and that purpose is clearly being defeated."
