Aug 26, 2026

Atiku Dares Tinubu: Probe Me Over $16bn Power Spend If You Have Proof

By Afolabi Olaiya Idowu in news

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Abuja, Nigeria – August 26, 2026 — Former Vice President Atiku Abubakar on Wednesday issued a bold challenge to the Bola Tinubu administration: investigate and prosecute him over long-standing allegations linked to the controversial $16 billion power-sector spending if any credible evidence exists.

Speaking through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku dismissed the renewed accusations as a familiar political tactic designed to distract from more urgent questions about the management of public funds, particularly the revenues generated after the removal of petrol subsidy.

“The National Assembly investigated the power projects. I was never invited to answer any allegation of wrongdoing,” Atiku stated.

He acknowledged chairing the National Council on Privatisation during his time as vice president but insisted he disagreed with the concept of the power project and did not oversee its implementation — a responsibility that fell to the relevant minister. The same, he said, applied to the Aluminium Smelter matter.

“Propaganda Cannot Substitute for Evidence”

Atiku, the presidential candidate of the African Democratic Congress (ADC) for the 2027 elections, noted that he has repeatedly invited scrutiny since leaving office in 2007.

“If there is evidence that I stole public money, why has no government produced it before a court?” he asked. “It is still not too late. Investigate me. Invite me. Produce the evidence. Prosecute me if you have a case. But propaganda cannot substitute for evidence.”

The former vice president turned the spotlight back on the current government, challenging it to explain what has become of the savings from subsidy removal.

“You removed the subsidy. You collected the savings. Where is the money?” he demanded.

Context of a Long-Running Controversy

The $16 billion figure has for years been associated with power-sector investments and contracts during the Obasanjo era, when Atiku served as vice president.

Critics have repeatedly raised questions about value for money and outcomes, while Atiku and his camp have maintained that proper investigations never produced actionable findings against him.

The latest exchange comes amid heightened political tension, with Atiku’s camp also questioning recent power-sector debt interventions under the Tinubu administration — including successive bonds and proposed multi-trillion-naira facilities that critics say have yet to fully resolve outstanding liabilities to generation companies.

Observers see the exchange as part of the intensifying pre-2027 political contest, where accountability, fiscal transparency, and the legacy of past and present administrations remain central battlegrounds.

For now, Atiku’s message is clear: stop recycling old claims and either present evidence or answer the questions Nigerians are asking about today’s public finances.