Non-governmental organisation, the Socio-Economic Rights and Accountability Project (SERAP) has urged all 36 state governors and the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to account for the estimated N14 trillion fuel subsidy savings they collected since 2023.

SERAP made this demand on Sunday in a statement signed by the Deputy Director, Kolawole Oluwadare.

“We’ve urged Nigeria’s 36 state governors and the Minister of the Federal Capital Territory, Mr Nyesom Wike to urgently disclose the spending details of the estimated N14trn fuel subsidy savings they collected from the
Federation Account Allocation Committee (FAAC) allocations, including details and locations of projects executed with the money, and the implementation status and completion reports, if any, on the projects,” the statement read.

“The 36 governors and the FCT minister have reportedly collected trillions of naira from FAAC allocations as fuel subsidy savings since mid-2023. But the increased allocations have not translated into improved access to basic public services, such as quality healthcare and education for poor and vulnerable Nigerians.”

SERAP said there is a legitimate public interest for governors and the FCT minister to urgently explain how they have spent the money they have so far collected from the subsidy savings.

It added that the savings from the removal of fuel subsidy ought to be spent solely for the benefit of the poor and vulnerable Nigerians who are bearing the brunt of the removal.

“Transparency in the spending of the money would help to avoid a morally repugnant result of double jeopardy on these Nigerians,” SERAP said.