Atiku Abubakar has expressed strong concern over Nigeria’s fiscal structure, reacting to recent findings by the World Bank which he described as deeply troubling.
In a statement released through his spokesperson, Phrank Shaibu, the former Vice President said the report reinforces growing concerns about how public funds are managed in the country.
He argued that despite increases in national revenue, the expected benefits are not reaching ordinary Nigerians.
According to him, the situation points to deeper systemic issues, including inefficiencies and possible misuse of public resources.
“What the World Bank has revealed is both alarming and unacceptable. Nigeria is earning more revenue today, yet the Nigerian people are receiving less benefit from it. This contradiction points not just to inefficiency, but to a system vulnerable to abuse, leakage, and the possible diversion of public funds.
“The report confirms what many Nigerians have long suspected: that the administration of Bola Ahmed Tinubu operates an opaque financial structure that enables systemic corruption.”
Atiku further raised concerns about the structure of revenue management, particularly the practice of making significant deductions from national income before it is shared through the Federation Account. He warned that such practices could reduce transparency and limit the funds available for governance and development at all levels.
“When large portions of national income are deducted at source, outside full legislative scrutiny, it creates fertile ground for opacity, unaccounted spending, and financial recklessness. That is how nations lose track of their own wealth,” Atiku stated
He emphasized the need for greater accountability and transparency in the management of public finances, noting that restoring trust in the system is essential for sustainable economic progress and improved living standards.
