$16bn Power Funds: Probe Me If You Have Evidence – Atiku Dares Tinubu Govt

Former Vice President Atiku Abubakar has challenged the federal government to investigate and prosecute him if it has evidence linking him to the alleged misappropriation of $16bn in power funds while he was in government.

This is as Atiku accused the government of President Bola Tinubu of recycling old allegations to divert attention from questions over the use of revenues saved from petrol subsidy removal.

Naija News reports that the African Democratic Congress (ADC) 2027 presidential candidate gave the challenge in a statement on Wednesday issued by his Senior Special Assistant on Public Communication, Phrank Shaibu.

He claimed the government was raising allegations involving expenditures on power-sector projects, privatisation, and public assets to shift public attention from the economic hardship confronting Nigerians.

He instead challenged the Tinubu government to explain what the funds gained from the fuel subsidy removal have been used for since 2023.

On the allegations against him, Atiku said they had been repeatedly raised over the years without resulting in any prosecution, despite successive governments having access to the investigative machinery of the state.

“The National Assembly investigated the power projects. I was never invited to answer any allegation of wrongdoing.

“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. The same applies to the Aluminium Smelter matter.

“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,” the statement read in part.

The ADC chieftain’s latest challenge comes amid renewed public face-off between him and the federal government over the impact and implications of the fuel subsidy removal on Nigerians.

Atiku had argued that the policy had caused greater distress for the citizens and vowed to reverse it if elected in 2027.

He noted that the controversy over the power projects was being revived because his demand for greater transparency over the proceeds of subsidy removal had become politically uncomfortable for the administration.

However, the government insisted that Atiku’s position is merely based on politics and not reality or the interest of the people.

“They removed subsidy from the poor and promised that the sacrifice would free resources for development. Nigerians accepted extraordinary pain on that promise.

“Today, petrol is more expensive, transportation is more expensive, food is more expensive and the purchasing power of the Nigerian worker has been devastated,” Atiku argued.

He further questioned the government’s fiscal priorities, alleging that while ordinary Nigerians were being asked to endure the consequences of subsidy removal, powerful economic interests continued to benefit from fiscal incentives, waivers and concessions.

“Meanwhile, government revenues have increased, while fiscal incentives, waivers, tax credits and concessions continue to be available to powerful economic interests.

“So our question remains brutally simple: where is the people’s money?” he asked.