Former Vice President Atiku Abubakar has criticized the current administration led by President Bola Ahmed Tinubu, labeling recent findings from the Association of Power Generation Companies (APGC) as proof of the government’s failure. Through his aide, Phrank Shaibu, Atiku highlighted statements from APGC executive secretary Dr. Joy Ogaji, who revealed that the highly publicized N501 billion bond has not been fully distributed, contradicting official government claims.
Atiku argued that this situation undermines the administration’s fiscal integrity and transparency. Dr. Ogaji notably challenged the government to provide proof of payment, including a detailed list of beneficiaries and specific transaction dates. She characterized the government’s approach as superficial, suggesting that official announcements prioritize positive headlines over substantive progress in the electricity sector.
The former presidential candidate questioned why the government continues to propose new borrowing plans when previous intervention programs have failed to resolve outstanding liabilities. He emphasized that the industry’s skepticism toward government claims necessitates an immediate public disclosure of all financial disbursements. Atiku called upon the National Assembly and the Auditor-General of the Federation to conduct a thorough audit of these funds.
He concluded by asserting that the government has a moral and constitutional duty to account for every kobo borrowed. According to Atiku, persistent power issues and the growing debt burden demonstrate that the current governance model, which relies on endless announcements rather than tangible results, is unsustainable and detrimental to the Nigerian public.
