Former Vice-President Atiku Abubakar has demanded a full reconciliation of Nigeria’s public debt, following the latest figures showing that the country’s debt stock has risen to N166.79 trillion.
The Debt Management Office (DMO) reported that Nigeria’s total public debt stood at N166.79 trillion as of June 30, 2026, representing an increase of N7.44 trillion from the N159.35 trillion recorded at the end of the first quarter.
Atiku, through a statement issued by his Director of Strategic Communications, Phrank Shaibu, called for a detailed account of the country’s borrowing, including old obligations newly captured, exchange-rate effects on foreign debt, fresh loans contracted since 2023, repayments and outstanding balances.
He also demanded clarification on the Federal Government’s Treasury Bills, following the DMO’s report that N19.48 trillion in Nigerian Treasury Bills was outstanding as of June 30.
Atiku said the government should disclose which Treasury Bills had matured, which were redeemed or rolled over, and which represented genuinely new borrowing.
The former vice-president also questioned $39.25 million listed as “other charges” in the DMO’s second-quarter 2026 external debt-service report. He specifically sought an explanation for a $22.5 million charge linked to a First Abu Dhabi Bank Total Return Swap.
He asked the Federal Government to disclose the agreement authorising the transaction, the original facility, the amount drawn and any outstanding obligations connected to it.
According to the DMO, Nigeria’s total debt comprised N91.59 trillion in domestic debt and N75.2 trillion in external debt as of June 30, 2026.
Atiku also questioned the continued rise in borrowing despite increased government revenues and called on President Bola Tinubu’s administration to explain how the borrowed funds had translated into tangible benefits for Nigerians.
He further demanded an apology from the Tinubu administration and the All Progressives Congress over what he described as the hardship Nigerians have experienced since the removal of the petrol subsidy and other economic reforms.