The [African Democratic Congress (ADC)](https://en.wikipedia.org/wiki/African_Democratic_Congress_(Nigeria)) has formally asked [President Bola Tinubu](https://en.wikipedia.org/wiki/Bola_Tinubu) to explain a $12.4 billion shortfall that the [World Bank](https://www.worldbank.org/en/country/nigeria) flagged in Nigeria’s external accounts, a gap that equals almost a quarter of the N68.32 trillion budget slated for 2026.
The World Bank’s October 2026 Nigeria Development Update recorded a $12 billion current‑account surplus and $6.2 billion of net financial inflows for the first half of the year, yet it also highlighted a $12.4 billion gap in the nation’s external accounts.
According to the Bank, part of the missing amount stems from oil export earnings that have not been repatriated because crude shipments were pledged as collateral for several long‑term loans.
The ADC described the gap as “staggering”, noting it exceeds the entire current‑account surplus and is about 5.6 times the $2.2 billion of foreign direct investment recorded for the same period.
**What does the party want?**
The party argues that households already coping with soaring living costs should not bear the burden of undisclosed funds. It calls for a full reconciliation of the $12.4 billion, disclosure of oil‑backed loans, updated reserve figures and proof that extra revenues are improving health, education and electricity services.
In its statement, the ADC urged Tinubu to “open the books”, saying Nigerians have sacrificed enough and deserve a transparent accounting of the nation’s resources.