Tinubu Camp Fires Back at Atiku Over Alleged Oil Windfall

The presidency has responded to former Vice President Atiku Abubakar's criticism of President Bola Tinubu's economic policies. In a statement, Special Adviser to the President on Information and Strategy Bayo Onanuga challenged Atiku to provide evidence for his claim that the Federal Government earned N7.98tn from crude oil sales.

Onanuga argued that there was no windfall of N7.98 trillion, and accused Atiku of twisting facts about debt and the economy. He explained that although Brent crude prices averaged around $90 per barrel in the first half of 2026, above the budget benchmark of $64.85, crude oil production remained below projections.

The presidential aide also faulted Atiku's method of estimating oil revenue, saying it ignored the cost of production and the share of crude belonging to oil-producing companies.