ABUJA, Nigeria — Former Vice President Atiku Abubakar on September 26, 2026, called on President Bola Tinubu’s government to publish a full reconciliation of Nigeria’s public debt, including details of new borrowing, repayments, exchange-rate effects and previously existing obligations added to the official stock.
The demand was contained in a statement issued by Phrank Shaibu, Director of Strategic Communications of the African Democratic Congress Presidential Campaign Council. Punch and Vanguard independently reported the statement.
Atiku’s request follows the Debt Management Office’s report that Nigeria’s total public debt stood at N166,788,480.19 million — exactly N166.78848019 trillion — on June 30, 2026.
The total comprised external debt of N75,198,046.27 million, equivalent to N75.19804627 trillion, and domestic debt of N91,590,433.92 million, or N91.59043392 trillion.
Atiku asked the administration to identify any older obligations that were newly recognised in the debt stock and to separate their effect from loans contracted since 2023. He also requested an accounting of repayments and outstanding balances, as well as the effect of exchange-rate movements on the naira value of foreign-currency debt.
The requested reconciliation would show how each component contributed to the reported total rather than relying solely on the debt position recorded at the end of June.
Treasury Bills under scrutiny
Atiku also sought more information about Federal Government Nigerian Treasury Bills. The Debt Management Office recorded exactly N19,482,871,408,000.00 in outstanding Treasury Bills as of June 30, 2026.
He asked the government to distinguish between bills that subsequently matured, those that were redeemed, securities that were rolled over and any bills representing new borrowing. The distinction would clarify whether changes in the balance reflected repayment, refinancing or additional debt.
“A June snapshot cannot answer a September question,” Punch quoted Atiku as saying in support of his demand for an updated and transparent reconciliation of the Treasury Bills figure.
Atiku’s statement did not dispute the figure published for June 30. Instead, it sought transaction-level explanations of how the government’s obligations had changed after the reporting date and how the outstanding amount should be interpreted.
Questions over external-debt charges
The former vice president also raised questions about costs listed in the Debt Management Office’s record of Nigeria’s external-debt service payments for April through June 2026.
The report recorded exactly $39,249,694.81 under “other charges” for the three-month period. Items included $22,500,000.00 for a First Abu Dhabi Bank Total Return Swap and $8,967,661.00 for Deutsche Bank AG.
Atiku requested supporting information about the First Abu Dhabi Bank item, including the legal and financial basis for the payment and the obligations linked to the underlying transaction.
“What exactly was the $22.5 million charge for? Which agreement authorised it? What was the original facility? How much was drawn? What obligations remain outstanding?” he said, according to both Punch and Vanguard.
The questions focus on whether the published debt-service tables provide enough information for the public to connect individual charges with the original facilities, amounts previously drawn and remaining liabilities.
Atiku’s broader demand calls for the government to bring together debt-stock and debt-service records in a reconciliation showing additions, repayments, refinancing and valuation changes. Such an accounting, he argued, should explain how the reported public-debt total was reached and identify the agreements underlying specific external-debt charges.
The Debt Management Office publications provide the official totals for June 30 and list payments made during the second quarter. Atiku is seeking further disclosure beyond those headline figures, particularly on debt movements since 2023, the status of Treasury Bills after June and the contractual basis for the external-debt charges.
