Former Vice President of Nigeria and Presidential Candidate of the African Democratic Congress (ADC), Atiku Abubakar, has expressed grave concern over revelations from the 2026 Appropriation Act, independently analysed by Tracka, showing that the Federal Cooperative College, Oji River, Enugu State, was allocated a staggering ₦1.08 trillion to execute 2,791 capital projects across the 36 states and the Federal Capital Territory.
In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku commended Tracka for exposing what appears to be one of the most disturbing examples of budget distortion under the Tinubu administration.
He said the revelations come at a time when the Presidency is asking Nigerians to believe that painful reforms, higher taxes and unprecedented borrowing are products of prudent economic management.
“Nothing exposes the hollowness of that claim more than a budget that turns a federal cooperative college into one of Nigeria’s largest project-implementing agencies.”
Atiku said the revelations raise serious questions about the credibility of the 2026 budget.
It defies logic, public finance principles and the institution’s statutory mandate that a college established to promote cooperative education should suddenly become responsible for roads, drainage systems, solar streetlights, markets, football pitches, dialysis centres, ambulances, water schemes, recycling plants, empowerment programmes and thousands of other projects scattered across the federation.
“Who decided that a cooperative college should become one of Nigeria’s biggest ministries by stealth? Under what law was it transformed into the implementing agency for 2,791 projects? Who nominated these projects, who approved them, who will supervise them, and who will be held accountable?”
Atiku said the disclosures completely undermine the Tinubu administration’s claim of fiscal discipline.
“This government operates a medieval financial system in which the national treasury is treated as the personal purse of the ruler—available to be spent, diverted or dispensed at will, with little regard for transparency, accountability or the public interest. In a constitutional democracy, however, the treasury belongs to the Nigerian people, not to the President or his cronies.”
“A government that says there is no money, removes fuel subsidy, raises taxes, accumulates unprecedented debt and demands endless sacrifices from Nigerians cannot simultaneously operate a budget that appears designed to hide public spending behind institutions with neither the statutory mandate nor the institutional capacity to execute projects of this magnitude.”
“A government that plans to spend ₦1.08 trillion through a cooperative college cannot claim to be fighting waste or promoting fiscal discipline. It looks less like governance and more like a blueprint to defraud Nigerians.”
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