The African Democratic Congress (ADC) has called on President Bola Tinubu to explain for the $12.4 billion gap identified in the World Bank’s October 2026 Nigeria Development Update.
ADC in a statement by the National Publicity Secretary Mallam Bolaji Abdullahi noted that the report said Nigeria recorded a $12 billion current-account surplus and $6.2 billion in net financial inflows in the first half of 2026.
According to the party, the alleged missing $12.4 billion gap could have strengthened the country’s reserves, noting that the World Bank said the gap reflected in part, oil export earnings and export proceeds.
“This unexplained gap is larger than the entire current-account surplus for the same period.
“It is about 5.6 times the $2.2 billion Nigeria attracted in foreign direct investment. In naira terms, it is almost a quarter of the N68.32 trillion 2026 federal budget,” ADC said, adding that President Tinubu owes Nigerians an account of the discrepancy, particularly at a time when families struggling with the cost-of-living crisis are forced to account for every naira.
“This cannot be dismissed as a minor accounting discrepancy,” the party said, arguing that President Tinubu who accepted the report, cannot celebrate one part of the report and remain silent on a gap bigger than the surplus that he and his government were celebrating.
“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.
“Sacrifice cannot be compulsory for everyday citizens while accountability remains optional for the government that is in charge of our collective resources,” the party said.
ADC called on the Federal Government to publish a full public reconciliation of the $12.4 billion gap and disclose all oil-backed loans and pledged crude commitments.
The party also demanded updated net reserve figures and clear evidence that higher revenues are improving essential services such as health, education and power.
“President Tinubu must open the books. Nigerians have sacrificed enough. We deserve answers,” ADC said.
