Oye queries N11.85trn borrowing, N30.64trn spending, seeks details on $5bn Abu Dhabi deal
…Says naira lost 29% value in 4yrs
Chairman, Alliance for Economic Research and Ethics Ltd/Gte, Dele Oye, has raised concerns over transparency surrounding the Federal Government’s approximately $5 billion financing arrangement with First Abu Dhabi Bank, while questioning the composition of the N20.4 trillion in incremental resources and N30.64 trillion in additional expenditure reported under President Bola Ahmed Tinubu’s administration.
Oye, a former president of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), said the government needed to provide more information on the Abu Dhabi facility, particularly because it involved public institutions, sovereign obligations and public collateral.
His concerns followed Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele’s presentation of the Federal Government’s economic reform scorecard on August 19, 2026.