Former Vice President and African Democratic Congress presidential candidate, Atiku Abubakar, has challenged the Federal Government to investigate and prosecute him if it has evidence linking him to the alleged expenditure of $16 billion on power projects during his time in government.
Atiku made the challenge in a statement issued on Wednesday by his Senior Special Assistant on Public Communication, Phrank Shaibu.
He accused the President Bola Tinubu-led administration of reviving old allegations involving power-sector projects, privatisation and public assets in an attempt to divert attention from questions surrounding the use of funds saved following the removal of the petrol subsidy.
Atiku said successive governments had access to the machinery of state and ample opportunity to investigate the allegations against him, yet none had produced evidence that resulted in his prosecution.
According to him, the National Assembly had previously investigated the power projects, but he was never invited to respond to allegations of wrongdoing.
He explained that although he chaired the National Council on Privatisation as vice president, he disagreed with the concept of the power project and was not responsible for its implementation.
Atiku said, “I have repeatedly asked to be investigated. I left office in 2007 and have spent much of the period since then opposing governments in power. If there is evidence that I stole public money, why has no government produced it before a court?”
He added that the government should investigate him, invite him to answer questions and prosecute him if it had a genuine case, stressing that allegations without evidence could not replace due process.
The former vice president also questioned the management of revenues generated since the removal of the petrol subsidy, asking the Federal Government to account for the funds.
He argued that Nigerians had endured significant increases in petrol, transportation and food prices since the subsidy was removed, while the promised benefits of increased government revenue remained unclear.
“Today, petrol is more expensive, transportation is more expensive, food is more expensive and the purchasing power of the Nigerian worker has been devastated,” Atiku said.
He further alleged that while ordinary Nigerians continued to bear the economic burden of the reforms, influential businesses were benefiting from fiscal incentives, waivers, tax credits and concessions.
The former vice president therefore renewed his question over how the additional government revenues were being utilised.
President Tinubu announced the removal of the petrol subsidy shortly after assuming office in May 2023. The Federal Government has maintained that the decision was necessary to reduce pressure on public finances and free up resources for infrastructure and social programmes.
However, the policy led to a sharp increase in petrol prices and contributed to higher transportation and living costs, making subsidy removal one of the major political and economic issues under the Tinubu administration.
Atiku has increasingly made accountability, economic hardship and the management of public resources central to his criticism of the government, as political tensions ahead of the 2027 elections continue to intensify.
