Former Vice President Atiku Abubakar has called on the National Assembly to investigate allegations of covert petrol subsidy payments by President Bola Tinubu’s administration.
Atiku, in a statement issued by his spokesperson, Paul Ibe, on Thursday, challenged the presidency to demonstrate bravery in taking ownership of its policies and their consequences by being accountable to Nigerians.
Atiku yesterday accused Tinubu of misleading the public about its stance on petrol subsidies following a report that says fuel subsidy projected to cost about N5.4 trillion in 2024, which is contrary to what the president promised during his inauguration on May 29, 2023, when he announced the end of the subsidy on Premium Motor Spirit (PMS), also known as fuel.
READ ALSO:FG paying fuel subsidy, lying about it is shocking – Atiku
In his speech, Tinubu said the outgoing administration made no provision for fuel subsidy in the 2023 budget. “Subsidy can no longer justify its ever-increasing costs in the wake of drying resources,” he said.
The Presidency, however, has denied these allegations in a statement on Thursday and reaffirmed its position that the fuel subsidy era has ended.
The Presidency clarified that there has been no shift in the government’s policy on fuel subsidies since Tinubu’s announcement on May 29, 2023, noting that there is no N5.4 trillion being provisioned for it in 2024, as has been widely speculated and discussed.
READ ALSO: Tinubu’s position on fuel subsidy removal unchanged – Presidency
In response, Atiku accused the Tinubu administration of diverting public funds through petrol subsidies, which is why the government refuses to reveal how much money is spent on subsidies.
Atiku referenced reports from the World Bank and the IMF, both of which suggest that Nigeria continues to pay petrol subsidies, contradicting the government’s public stance.
He also claimed that a senior APC member had revealed that the subsidy was being paid.
The statement read, “The former Vice President said the clandestine subsidy regime was one of the reasons investments in the oil sector had refused to come in.
“Tinubu has brought the shady nature of running Lagos to the federal level. He claims subsidy is gone but his Special Adviser on Energy, Olu Verheijen, says they are intervening from time to time while his Finance Minister, Wale Edun, described subsidy removal as an ‘ongoing process’. A document authored by the Coordinating Minister of the Economy revealing how much subsidy is being paid is now being disowned by the very authors of the document.
“Both the World Bank and the IMF have revealed in separate reports that Nigeria is still paying petrol subsidies, but the Tinubu government refuses to come clean. Even a senior member of the APC had revealed that the subsidy was being paid.
“For a man who claims to be on a mission to attract foreign direct investment, it is ironic that he cannot see that his policy flip-flops and lies are capable of dissuading investors. He must come clean on this subsidy issue since he doubles as a petroleum minister. The Tinubu administration should be courageous enough to own their policies and outcome with their full chest and responsible enough to be accountable for their actions to Nigerians.”
He, however, noted there is a need for the National Assembly to “get to the bottom of the matter” rather than focusing on “frivolous issues.”
Atiku stated that “this denial lends credence that money meant for the Federation Account, which ought to be shared to states and local governments, is being diverted without any form of accountability whatsoever.”
The former statesman also added that the National Assembly “needs to be alive” to its responsibilities, particularly in the area of oversight.
“Posterity will not be kind to members of the National Assembly if they continue to look the other way while daylight robbery is taking place,” Atiku added
