Subsidy Saving: FG’s Claim Full Of Deception, Contradictory – APM
The Allied Peoples’ Movement (APM) has accused the President Bola Tinubu-led All Progressives Congress (APC) government of deceiving Nigerians by claiming that only N15.8 trillion accrued to the federation account from the removal of petrol subsidy since May 29, 2023.
APM in a statement by the National Publicity Secretary Abubakar Yusuf, recalled that former Minister of Finance and Coordinating Minister of the Economy, Wale Edun told Nigerians in November 2024 that the nation had saved an estimated $20 billion (about N26.9 trillion), from subsidy removal.
The party stated that disparity in the figures given by Edu and his successor in office, Taiwo Oyedele, “further validates allegations of looting and raises serious questions on the overall integrity of the report including its spending claims.”
APM called on the Tinubu administration to come clean on the exact amount currently saved especially given that more savings have been garnered between November 2024 and 2026.
It also accused the government of bandying and muddling up figures without details, and said it was meant to confuse Nigerians.
“The vague claim that out of the now belied N15.8 trillion, the Federal Government received only N5.4 trillion, while N10.4 trillion was shared among states and local governments across the country remain unsubstantiated,” the party stated.
APM said instead of resorting to blanket claim, the Federal Government should provide a detailed breakdown of the funds shared to each state and local government, the dates of disbursement and the specific purposes for which the money was deployed.
“The diversionary attempt to shift the question to states and local government does not help the Tinubu administration,” the party stated.
It also said the attempt by the APC to claim that N9.39 trillion out of the total incremental resources from subsidy savings, independent revenue and borrowings during the period went into payment of workers’ wages and students’ loans.
“This comes to us as an attempt by the APC to pitch Nigerians against the innocent civil servants and students who are actually victims of the corruption of the APC.
“This vague claim is capable of triggering further increase in the cost of living and make life more unbearable for Nigerians,” APM said.
The party also disputed the claims by the Federal Government that its reforms have benefited Nigerians, noting the excruciating hardship in the country where more than 140 million Nigerians now live below the poverty line with staggering 63 percent poverty rate, 33.3 percent unemployment rate and estimated $2.3 trillion infrastructure deficit, describing it as height of President Tinubu administration’s insensitivity to the plight of the citizens.
The APM however told Nigerians not to despair but continue to rally with the party and presidential candidate, Engr. Seyi Makinde, whom he said would end the APC misrule “and enthrone a truthful, transparent and trustworthy leadership that will reposition our nation and return her to the path of peace, national cohesion and economic prosperity.”
