Former Vice President and 2023 PDP presidential candidate Atiku Abubakar has raised serious allegations against President Bola Tinubu’s administration over the management of petrol subsidy funds.
In a statement released yesterday, Atiku criticized the administration for a lack of transparency regarding subsidy expenditures, suggesting covert fund diversion.
These allegations emerge amid ongoing public debate and confusion over the fuel subsidy status in Nigeria. “The refusal of the present administration to disclose the actual expenditure on the petrol subsidy clearly indicates that there is a secretive diversion of funds,” Atiku stated.
His remarks were a direct response to recent assertions from the presidency, which maintains that the subsidy regime has ended. Presidential aide Bayo Onanuga reiterated the government’s position on Thursday, saying, “The fuel subsidy regime has ended. There is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed.”
However, Atiku, through his spokesman Paul Ibe, countered this narrative. “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’,” he said.
Atiku continued, “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 subsidy was being paid.”
He further criticized the administration’s inconsistency, stating, “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 outcomes fully and be accountable for their actions to Nigerians,” Atiku added. “This denial lends credence to the belief that money meant for the Federation Account, which ought to be shared with states and local governments, is being diverted without any form of accountability whatsoever.”
Atiku also urged the National Assembly to investigate the matter, saying, “There is a need for the National Assembly to get to the bottom of the matter rather than focusing on frivolous issues. The National Assembly needs to be alive to its responsibilities, especially 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’s allegations add to the increasing calls for transparency and accountability in the administration’s handling of the fuel subsidy issue.
