ADC Asks Tinubu to Explain $12.4bn External Accounts Gap

The African Democratic Congress (ADC) has challenged President Bola Tinubu to elucidate a $12.4 billion (about N16.5 trillion) hole in Nigeria’s exterior accounts recognized within the World Bank’s October 2026 Nigeria Development Update.

The celebration stated the discrepancy demanded pressing clarification, notably as hundreds of thousands of Nigerians grapple with rising residing prices and worsening financial hardship.

In a press release on Saturday, signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC stated the quantity was too substantial to be dismissed as a routine accounting discrepancy.

According to the celebration, the World Bank report confirmed that Nigeria recorded a $12 billion current-account surplus and $6.2 billion in web monetary inflows within the first half of 2026. However, the report additionally recognized a $12.4 billion hole within the nation’s exterior accounts.

The World Bank reportedly attributed a part of the discrepancy to grease export earnings that weren’t repatriated, noting that the return of export proceeds remained restricted, partly as a result of Nigerian crude oil had been pledged in opposition to a number of long-term loans.

“The scale is staggering,” the ADC stated, including that the unexplained hole exceeded your entire current-account surplus recorded in the course of the interval.

The celebration additional claimed that the quantity was about 5-6 occasions the $2.2 billion Nigeria attracted in international direct funding and equal to almost 1 / 4 of the N68.32 trillion 2026 federal finances.

It accused the Tinubu administration of celebrating optimistic facets of the World Bank report whereas failing to deal with the monetary discrepancy.

“President Tinubu welcomed this report. He cannot celebrate one part of the report and stay silent on a gap bigger than the surplus that he and his government are celebrating,” the assertion stated.

The ADC linked the problem to the financial hardship confronting households, arguing that funds whose whereabouts remained unclear may have helped ease the burden on struggling Nigerians.

“Due to President Tinubu’s failed policies, families across Nigeria are forced to skip meals and account for every naira just to survive. Meanwhile, money that could have been used to ease their hardship is currently unaccounted for. Tinubu owes Nigerians an explanation,” it stated.

The celebration added: “Sacrifice cannot be compulsory for everyday citizens while accountability remains optional for the government that is in charge of our collective resources.”

It referred to as on the Federal Government to publish a complete reconciliation of the $12.4 billion hole and disclose particulars of all oil-backed loans and crude oil commitments pledged in opposition to such services.

The ADC additionally demanded up to date figures on Nigeria’s web international reserves and proof exhibiting how elevated authorities revenues have been translating into improved important providers, together with healthcare, training and electrical energy.

“President Tinubu must open the books. Nigerians have sacrificed enough. We deserve answers,” the celebration stated.