Former Vice President Atiku Abubakar has thrown a direct challenge to President Bola Tinubu’s administration to formally investigate and prosecute him if it possesses any evidence linking him to the alleged $16 billion power sector fund probe.
Atiku dismissed the allegations as recycled political distractions designed to evade accountability over the revenues accrued from the administration’s petrol subsidy removal policy.
The bold challenge was contained in an official statement issued in Abuja on Wednesday, August 26, 2026, by his Senior Special Assistant on Public Communication, Phrank Shaibu.
Speaking on behalf of the former Vice President, Shaibu declared that the resurfacing of nearly two-decade-old allegations surrounding public asset privatisation and power sector spending under the Olusegun Obasanjo presidency (1999–2007) was a coordinated attempt by government handlers to silence growing public opposition to current economic hardships.
”I chaired the National Council on Privatisation as Vice President, but I did not oversee the implementation of the power projects. The responsible minister did,” Atiku stated, reiterating his historical position.
”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? It is still not too late. Investigate me. Invite me. Produce the evidence. Prosecute me if you have a case. But propaganda cannot substitute for evidence”.
Addressing the ongoing debate on fuel subsidy, Atiku argued that the Tinubu administration must address the economic realities facing citizens rather than reviving settled political debates. He questioned the destination of government savings since the elimination of the petrol subsidy in May 2023, asking, “Where is the people’s money?”
Atiku alleged a double standard, accusing the administration of asking ordinary citizens to endure devastating reductions in purchasing power while continuing to grant fiscal incentives, tax credits, and waivers to powerful corporate interests.
The Presidency, through Special Adviser on Information and Strategy Bayo Onanuga, has previously criticized Atiku’s economic policy proposals—particularly regarding petrol pricing and subsidies—as inconsistent and politically motivated.
However, Atiku maintained through his spokesperson that no amount of social media attacks or political rhetoric would stop him from demanding transparency on public expenditure and advocating for policies to restore the purchasing power of the Nigerian worker.
