Presidency Rejects Atiku’s ₦7.98tn Oil Windfall Claim, Cites FAAC Records

The Presidency has rejected former Vice President Atiku Abubakar’s claim that the Federal Government received an unaccounted oil windfall of ₦7.98 trillion. It described the allegation as unsupported and asked Atiku to present evidence. In a statement, the Presidency said any extra revenue from higher crude-oil prices is reflected in monthly Federation Account Allocation Committee figures. It also defended the Tinubu administration’s economic reforms, arguing that their effects should be assessed over time. It cited an increase in Nigeria’s dollar GDP from about $253 billion to $377 billion and said naira GDP rose from ₦314 trillion in 2024 to roughly ₦530 trillion. The Presidency further said the debt-to-GDP ratio remains below 40 per cent, while debt-service-to-revenue has fallen from nearly 100 per cent in late 2022 to below 60 per cent.

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