World Bank Report: ADC Asks Tinubu-led Govt to Explain ‘Missing’ $12.4bn

The African Democratic Congress (ADC) has demanded that President Bola Tinubu provide an explanation for the $12.4 billion missing in Nigeria's external accounts, as revealed in the World Bank's October 2026 Nigeria Development Update. The party's National Publicity Secretary, Mallam Bolaji Abdullahi, issued a statement outlining the concerns raised by the ADC.

According to the World Bank report, Nigeria recorded a $12 billion current-account surplus and $6.2 billion in net financial inflows during the first half of 2026. However, the ADC contends that the report also identified a $12.4 billion gap, equivalent to nearly a quarter of the 2026 federal budget, which stands at N68.32 trillion.

The ADC attributes part of the gap to oil export earnings that have not been repatriated, highlighting that Nigerian oil has been pledged against several long-term loans, limiting the repatriation of earnings. The party argues that this unexplained gap surpasses the entire current-account surplus for the same period and is five and a half times the amount of foreign direct investment Nigeria received.

In light of the report's findings, the ADC asserts that President Tinubu cannot celebrate parts of the report while ignoring the significant unaccounted-for funds. The party emphasizes that families across Nigeria are facing hardships due to Tinubu's policies, yet money intended to alleviate their suffering remains unaccounted for.

The ADC urges the federal government to publish a comprehensive public reconciliation of the $12.4 billion gap, disclose all oil-backed loans and pledged crude commitments, and provide updated net reserve figures. Moreover, the party demands clear evidence that increased revenues are improving essential services such as health, education, and power. The ADC concludes by stating that "President Tinubu must open the books. Nigerians have sacrificed enough. We deserve answers."