Former Vice-President Atiku Abubakar has challenged the Federal Government to investigate and prosecute him if it has evidence connecting him to alleged expenditure of $16bn on power projects during his time in government.
Atiku, who is the presidential candidate of the African Democratic Congress, also accused the Bola Tinubu administration of reviving old allegations against him to divert attention from questions about the management of funds generated following the removal of petrol subsidy.
His position was contained in a statement issued on Wednesday by his Senior Special Assistant on Public Communication, Phrank Shaibu.
Atiku argued that allegations concerning power projects, privatisation and public assets had been repeatedly raised against him without resulting in prosecution.
He maintained that successive governments had the opportunity to investigate the claims but failed to produce evidence linking him to any wrongdoing.
“The National Assembly investigated the power projects. I was never invited to answer any allegation of wrongdoing,” Atiku said.
He acknowledged that he chaired the National Council on Privatisation while serving as vice-president but said he did not oversee the implementation of the controversial power projects.
“Yes, I chaired the National Council on Privatisation as vice president. But on the power project, I disagreed with its concept and did not preside over its implementation. The responsible minister did,” he stated.
Atiku also referred to the Aluminium Smelter matter, saying his role should not be confused with responsibility for the implementation of projects handled by relevant ministers.
He challenged the Federal Government to take legal action if it possessed evidence against him.
“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 asked.
“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,” Atiku added.
The former vice-president said the renewed focus on the power projects was politically motivated, arguing that the controversy had resurfaced as he increasingly demanded accountability over the revenues generated since the removal of petrol subsidy.
He questioned how the additional government revenue had been used and asked, “Where is the people’s money?”
According to Atiku, Nigerians were promised that removing the subsidy would free up funds for development, but citizens had instead experienced higher petrol, transport and food prices.
“They removed subsidy from the poor and promised that the sacrifice would free resources for development. Nigerians accepted extraordinary pain on that promise,” he said.
“Today, petrol is more expensive, transportation is more expensive, food is more expensive and the purchasing power of the Nigerian worker has been devastated,” he added.
Atiku further criticised the government’s fiscal priorities, alleging that while Nigerians were bearing the consequences of economic reforms, some powerful interests continued to receive fiscal incentives, waivers, tax credits and concessions.
“So our question remains brutally simple: where is the people’s money?” he asked
President Tinubu announced the removal of the petrol subsidy shortly after assuming office in May 2023. The Federal Government defended the decision as necessary to ease pressure on public finances and redirect resources towards development programmes.
The policy, however, resulted in a substantial increase in petrol prices and contributed to rising transportation and living costs, making subsidy removal a major point of political debate.
Atiku has continued to criticise the administration’s economic policies, placing accountability, the cost of living and the management of public revenue at the centre of his opposition to the government.
His latest comments come amid an increasingly heated political exchange between the Federal Government and opposition figures over the impact of economic reforms on Nigerians.
