Atiku demands audit of power sector debts, accuses Tinubu of misleading Nigerians

Former Vice President Atiku Abubakar has accused the President Bola Tinubu-led administration of misleading Nigerians over the settlement of electricity generation debts, following claims by power generation companies that a widely publicised N501 billion intervention fund has not been fully disbursed.

Atiku, in a statement issued on Wednesday by Phrank Shaibu, his Senior Special Assistant on Public Communication, said recent comments by the Executive Secretary of the Association of Power Generation Companies (APGC), Joy Ogaji, had cast serious doubt on the President Tinubu administration’s claims that it had substantially cleared outstanding debts owed to GenCos.

He argued that the development raised questions about transparency, fiscal discipline and accountability in the management of power sector intervention funds.

According to Atiku, successive announcements of intervention packages and bond issuances have failed to resolve the liquidity crisis in the electricity sector, despite repeated assurances by the government.

“If the earlier interventions worked, why is another intervention necessary? If the debts were substantially cleared, why are the creditors saying otherwise?” he asked.

Atiku, the Presidential candidate of the African Democratic Congress (ADC) for the 2027 poll challenged the federal government to publish details of all payments made to generation companies, including the names of beneficiaries, amounts disbursed, dates of payment and outstanding balances.

He also called on the National Assembly and the Auditor-General of the Federation to conduct a comprehensive audit of all power sector intervention funds raised under the current administration.

According to him, every naira borrowed in the name of Nigerians must be fully accounted for, insisting that transparency and accountability are constitutional obligations.

Atiku further alleged that the administration had relied on repeated borrowing and public announcements without delivering measurable improvements in electricity supply, warning that public confidence would continue to erode unless the government provides verifiable evidence of its claims.