By Osaretin Osadebamwen
Former Vice President of Nigeria and Presidential Candidate of the African Democratic Congress (ADC), Atiku Abubakar, has issued a blistering challenge to President Bola Ahmed Tinubu, demanding that the Presidency move beyond what he describes as “bureaucratic grammar” and provide Nigerians with a transparent account of how resources from fuel subsidy removal have been utilised.
Atiku’s call comes in the wake of a damning assessment by the United States Government, which found that Nigeria failed to meet minimum fiscal transparency requirements and made “no significant progress” in addressing deficiencies concerning budget information, revenue and expenditure reporting, audit independence and public access to procurement information.
In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, the former Vice President accused the Tinubu administration of attempting to bury a serious indictment beneath carefully crafted language rather than addressing the substance of the U.S. assessment.
The Presidency had earlier dismissed the U.S. findings as an “external benchmark” that does not capture the full scope of the administration’s reforms. But Atiku insists that such a response amounts to an admission of failure dressed in defensive rhetoric.
“What exactly is the Tinubu Presidency saying? Nigeria failed the minimum fiscal transparency test, and its response is essentially: yes, we failed, but the test does not tell the whole story,” Atiku said.
“That is not a defence. It is an admission wrapped in grammar.”
The former Vice President further argued that the contradiction between the administration’s tax policies and its fiscal opacity is deeply troubling, pointing to the Central Bank of Nigeria’s July 2026 Business Expectations Survey, which showed that 70.8 per cent of respondents identified high and multiple taxation as their biggest business constraint.
Atiku said: “If, after all the reforms this administration advertises, Nigeria still cannot satisfy minimum fiscal transparency requirements, the problem is not the assessment. The problem is the government.
“The contradiction is even more disturbing when the government’s appetite for taxation is considered. The CBN’s July 2026 Business Expectations Survey showed that 70.8 per cent of respondents identified high and multiple taxation as their biggest business constraint.
“Yet, the same administration understands the importance of tax relief when dealing with major oil operators, offering performance-based incentives to attract investment.
“So Tinubu understands that excessive taxation can discourage investment when large corporations are involved, but somehow forgets the same economic principle when Nigerian manufacturers, SMEs, traders and entrepreneurs are being suffocated by multiple taxes and levies.
“You cannot demand first-class compliance from taxpayers while offering third-class accountability in return.”
Atiku also took aim at the President’s promise to “soon publish” details of how resources from fuel subsidy removal have been deployed, questioning why Nigerians have been kept waiting for more than three years since the policy was implemented.
“Soon? More than three years after Nigerians were asked to endure extraordinary hardship in the name of subsidy removal?” Atiku asked.
“Open the books now. Publish a full account of the subsidy savings and show Nigerians, project by project, where the money went.
“Publish the financial details of the rehabilitation of government-owned refineries: how much was spent, who received the contracts, what was delivered and why Nigerians are again being promised that the refineries will ‘come back to work.'”
The former Vice President insisted that the only appropriate response to an accusation of opacity is transparency, not another carefully worded press statement.
“The answer to an accusation of opacity is transparency, not another press statement,” Atiku declared.
“If the U.S. assessment is wrong, disprove it with the records. If it is incomplete, complete the picture with the accounts.
“Nigerians have paid enough. They have sacrificed enough. President Tinubu should stop explaining and start accounting.”
He further warned that the consequences of the administration’s failure on fiscal transparency are already visible in the daily struggles of Nigerian families and businesses.
“Open the books. Show Nigerians the money,” he demanded.
“The Tinubu government has failed a fundamental test of accountability, and Nigerians are living with the consequences of that failure every day in worsening hardship.
“The country is bleeding, and the evidence is no longer hidden. It is reflected in local economic data, in the daily struggles of Nigerian families and businesses, and in the assessments of international economic observers.
“Nigeria cannot afford another four years of failure disguised as reform. Tinubu’s failure must not be repeated.”
The U.S. assessment, which has now become a focal point of political debate, raises serious questions about the Tinubu administration’s commitment to fiscal openness at a time when Nigerians are grappling with soaring inflation, rising living costs and mounting economic pressures.
Atiku’s statement has reignited calls for greater accountability and transparency in government, with many Nigerians taking to social media to echo his demand that the President “open the books” and provide a clear accounting of public funds.
As the debate continues to unfold, the Tinubu administration faces mounting pressure to either defend its record with verifiable evidence or take concrete steps to address the deficiencies identified by the U.S. assessment.
For now, Atiku’s challenge stands: show Nigerians the money, or admit that the administration has failed a fundamental test of accountability.
