Chuks Okocha in Abuja
Presidential candidate of African Democratic Congress (ADC), Atiku Abubakar, has expressed 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 N1.08 trillion to execute 2,791 capital projects across the 36 states and the Federal Capital Territory (FCT).
In a statement by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku commended Tracka for exposing one of the most disturbing examples of budget distortion under the Tinubu administration.
He said the revelations came at a time when the presidency asked Nigerians to believe that painful reforms, higher taxes, and unprecedented borrowing were products of prudent economic management.
According to THISDAY checks, of the over one trillion naira appropriated for Federal Cooperative College, Oji River, in the 2026 budget, N920,997,145 was for personnel cost, N220,833,301 was for overhead, and N1,089,446,962,812 was for capital expenditure, making a total of N1,090,588,793,258
Sources told THISDAY, government agencies including the budget office are trying to verify these claims and establish what really happened.
THISDAY is working to establish where the capital projects are to be domiciled.
The Federal Cooperative College, Oji River is an agency under the Federal Ministry of Agriculture and Food Security.
Atiku in statement said, “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.”
He said the revelations raised serious questions about the credibility of the 2026 budget.
The former vice president stated, “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 undermined the Tinubu administration’s claim of fiscal discipline.
He said, “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 N1.08 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.”