ADC Accuses APC of Diverting N800bn FAAC Funds for Tinubu’s 2027 Campaign

ADC Accuses APC of Diverting N800bn FAAC Funds for Tinubu’s 2027 Campaign

Nigeria’s economic management has come under renewed public scrutiny after the African Democratic Congress (ADC) accused President Bola Ahmed Tinubu and governors elected on the platform of the All Progressives Congress (APC) of allegedly diverting more than N800 billion from Federation Account Allocation Committee (FAAC) funds to finance preparations for the 2027 general elections.

The allegation has sparked fresh debate over Nigeria’s fiscal transparency, public spending and the impact of the Federal Government’s economic reforms at a time millions of Nigerians are battling inflation, rising food prices and worsening living conditions.

The controversy also comes amid reports that the Federal Government is in discussions with the World Bank over a proposed fresh $1.25 billion loan facility, further raising concerns about Nigeria’s debt profile and dependence on external borrowing.

In a statement issued by its National Publicity Secretary, Bolaji Abdullahi, the ADC described the alleged diversion of public funds for political purposes as “shameless, cruel and criminal.”

According to the opposition party, reports suggesting that over N800 billion was allegedly raised through deductions from FAAC allocations confirmed fears that public resources were being converted into a political “war chest” ahead of the 2027 elections.

“The report alleging that over N800 billion was raised through deductions from FAAC allocations for political purposes confirms what Nigerians have long suspected, that while the administration continues to tell the people to endure the pains of its ill-fated economic reforms, the APC has been converting public resources into a war chest for 2027 politics,” the party stated.

The ADC argued that despite record allocations to states following the removal of petrol subsidy and the devaluation of the naira, ordinary Nigerians continue to face severe hardship, unemployment and insecurity.

“Under this APC government, states are receiving more money than at any other period in Nigeria’s history, yet Nigerians are poorer, hungrier, and more desperate than ever before,” the statement added.

“Roads are still collapsing. Hospitals are still empty. Schools are still underfunded. Workers are underpaid. Communities remain unsafe. The only thing growing is the political appetite of the ruling party.”

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The party maintained that if the allegations are proven true, they would amount to political corruption and diversion of resources meant for development, healthcare, education, infrastructure and citizens’ welfare.

“FAAC allocations are meant for development, salaries, healthcare, education, infrastructure, security and the welfare of citizens, not for financing the re-election plans of one man,” the ADC said.

The opposition party also called for an independent investigation into the alleged deductions and any accounts reportedly linked to the operation.

The allegation has intensified political tensions at a time the Tinubu administration is pushing ahead with major tax reforms in Nigeria aimed at increasing government revenue and reducing dependence on borrowing.

Speaking recently at the 28th Annual Tax Conference of the Chartered Institute of Taxation of Nigeria in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, defended the government’s fiscal reforms and warned that Nigeria could no longer sustain development through excessive borrowing.

According to Oyedele, the country urgently needs a more sustainable fiscal system capable of funding healthcare, education, infrastructure and social protection without relying heavily on debt.

The minister explained that the administration’s tax reform agenda seeks to simplify Nigeria’s tax system, improve compliance, widen the tax base and create a more competitive economy while protecting low-income earners and small businesses.

However, the reforms have continued to generate debate across the country, particularly amid concerns over rising taxation, inflation and the high cost of living.

Economic analysts say the growing controversy surrounding FAAC funds, taxation and public borrowing reflects broader public frustration over the country’s economic direction under President Tinubu’s administration.

Despite criticism, President Tinubu has repeatedly defended his economic policies, insisting that difficult reforms such as subsidy removal and exchange rate liberalisation were necessary to stabilise the economy and attract long-term investment.

The President has also argued that rising debt servicing costs have significantly reduced Nigeria’s ability to invest adequately in critical sectors such as infrastructure, healthcare and education.

As of the time of filing this report, neither the Presidency nor the APC Governors’ Forum had officially responded to the ADC’s allegations regarding the alleged diversion of public funds.

ADC Accuses APC of Diverting N800bn FAAC Funds for Tinubu’s 2027 Campaign