Agbakoba Warns Tinubu Administration Loses ₦20 Trillion Annually to Revenue Leakages

Olisa Agbakoba has accused the Tinubu-led government of overseeing massive revenue theft. He says Nigeria loses up to ₦20 trillion each year because public revenues are diverted before reaching the Federation Account. In a policy paper released recently, Agbakoba argued that the continued use of the Treasury Single Account lacks constitutional backing under Section 162(1) of the Constitution. He proposed a constitutional amendment requiring all funds to be paid in gross to the Federation Account before any deductions. He linked the leakages to Nigeria’s rising debt profile, noting that nearly 70 percent of federal revenue now goes to service debt that could have funded infrastructure, education, and healthcare. Agbakoba urged Nigerians to make the Federation Account crisis a key issue in the 2027 elections, demanding accountability from all presidential candidates.

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