The African Democratic Congress presidential candidate, Atiku Abubakar, has called on the Debt Management Office to make public Nigeria's external debt-service schedule for the second quarter of 2026. This demand was made through a statement released by the ADC Presidential Campaign Council's Director of Strategic Communications, Phrank Shaibu. Atiku's request comes amid concerns over transparency in the management of Nigeria's debt. The DMO had recorded $39.25 million in "other charges" between April and June 2026.
According to Shaibu, the "other charges" included $22.5 million against a First Abu Dhabi Bank Total Return Swap and $8.97 million against Deutsche Bank AG. However, there were no principal or interest payments recorded against the First Abu Dhabi Bank Total Return Swap during the quarter. Atiku's team is seeking clarity on the $22.5 million charge, including which agreement authorised it, the original facility, and outstanding obligations. Nigerians are entitled to the terms and supporting documentation, Shaibu stressed.
Atiku also demanded a reconciliation of Treasury Bill borrowing. As of June 30, 2026, the DMO reported ₦19.48 trillion in outstanding Nigerian Treasury Bills. The government is expected to publish what subsequently matured, what was redeemed, what was rolled over, and what constituted genuinely new borrowing. Auction allotments do not automatically equal an increase in outstanding debt, as some issuances replace maturing bills.
Shaibu expressed concerns that a June snapshot cannot answer a September question. Nigerians need the current outstanding balance and a transparent reconciliation of the transactions behind it. Atiku's requests are aimed at ensuring transparency and accountability in the management of Nigeria's debt. The ADC presidential candidate has been vocal about the need for good governance and transparency in the Tinubu administration.
Atiku's demands come as Nigerians continue to face economic challenges. The country has been struggling with high inflation, unemployment, and a decline in the standard of living. The opposition leader has been criticising the Tinubu administration's handling of the economy, calling for more concrete measures to address the challenges facing Nigerians.
Atiku's team has been pushing for transparency and accountability in the management of Nigeria's economy. The ADC presidential candidate has promised to take concrete steps to address the country's economic challenges if elected. Atiku's requests to the DMO are part of his broader efforts to promote transparency and good governance in Nigeria.
The DMO has yet to respond to Atiku's requests. However, the office has been working to improve transparency in the management of Nigeria's debt. The DMO has been publishing regular reports on Nigeria's debt profile, including the quarterly debt service schedule. Atiku's demands have sparked a renewed debate about transparency and accountability in Nigeria's debt management.
Key points
- Atiku Abubakar urges the Debt Management Office to disclose Nigeria's external debt-service schedule for Q2 2026.
- The DMO recorded $39.25 million in "other charges" between April and June 2026.
- Atiku demands a reconciliation of Treasury Bill borrowing, citing ₦19.48 trillion in outstanding Nigerian Treasury Bills as of June 30, 2026.
