Atiku Abubakar, the Former Vice President of Nigeria, has urgently requested President Bola Tinubu to cease misleading the public about the government’s actual approach toward the fuel subsidy issue.
In a statement relayed by Africa Today News, New York, Atiku disclosed on Thursday that despite President Tinubu’s claims of discontinuing the fuel subsidy, his administration has been discreetly allocating trillions of Naira towards subsidizing Premium Motor Spirit (petrol).
Atiku, who ran for president as the Peoples Democratic Party (PDP) candidate in the 2023 elections, highlighted that the expenditure on fuel subsidies during Tinubu’s term might soar to N5.4 trillion within the year (2024).
“At his swearing-in on May 29, 2023, President Bola Tinubu declared the termination of the PMS subsidy, commonly referred to as fuel,” Atiku remarked.
“Since then, Tinubu and his administration’s representatives have frequently flaunted this decision.
“I previously requested in my critique of Bola Tinubu’s one-year term that the administration clarify its genuine stance on the subsidy scheme.
“My precise words were: “…shed light on the fuel subsidy policy, detailing the financial obligations and advantages resulting from the reform of the fuel subsidy and its effects on the Federation Accounts.”
“It’s noteworthy that, starting in April 2024, the emergence of fuel queues has become prevalent at numerous filling stations across Nigeria, giving rise to the notorious ‘black market’ in multiple regions.
“What volume of PMS is being imported and at what expense? What encompasses the concealed subsidy?”
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“If the previous subsidy scheme was marked by lack of transparency, how then do we describe a scenario where subsidies are covertly maintained without the knowledge of Nigerians?
“I joined the multitudes of Nigerians in being startled by reports revealing that the “government continues to back downstream consumption.”
“We are now aware that the fuel subsidy spending might reach N5.4 trillion in 2024, as opposed to N3.6 trillion expended in 2023, the very year Tinubu professed to have eliminated the fuel subsidy.
“I am compelled to reaffirm that Nigeria is grappling with inefficiency, having endured over a year of inconsistent economic policies. To boast about paying subsidies while concealing the truth is indefensible. Nigerians warrant more than such deceit.”
Source: Africa Today News, New York
