Former Vice President of Nigeria, Atiku Abubakar, has accused President Bola Tinubu of misrepresenting the facts about the removal of fuel subsidies during his visits to international destinations, including New York, Qatar, and France.
In a statement issued on Sunday, Atiku, the 2023 presidential candidate for the People’s Democratic Party (PDP), alleged that Tinubu’s assertions about the cessation of fuel subsidies were false. The statement, signed by his Special Assistant on Public Communication, Phrank Shaibu, expressed concerns that Tinubu’s actions could harm Nigeria’s ability to attract Foreign Direct Investments (FDI).
Atiku also criticized the current administration, pointing out that despite the president’s claims of ending the subsidy, fuel scarcity remains a persistent issue in the country. He accused the government of maintaining a deceptive subsidy system, referencing recent financial disclosures from the Nigerian National Petroleum Company Limited (NNPCL).
“President Tinubu has been spreading misinformation about the removal of petrol subsidies during his visits to New York, Qatar, and France,” Atiku stated.
“It’s clear that this administration is not serious about bringing in FDI. More troubling is the president’s unwillingness to acknowledge that subsidies are still being paid. The NNPCL has confirmed that the government owes it N7.8 trillion.”
Atiku further highlighted that the International Monetary Fund (IMF) projects subsidy payments this year will account for 3% of Nigeria’s GDP, equivalent to around $7.5 billion, or roughly N11.8 trillion. Despite these figures, he noted, fuel shortages persist, while the government allegedly hinders operations at the Dangote Refinery and even its own NNPCL facilities.
“It’s evident that the subsidy system has become an even bigger channel for diverting funds, potentially for use in the 2027 elections,” Atiku warned.
