Atiku Abubakar, the Presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, has urged President Bola Tinubu to clarify the ongoing controversy surrounding the fuel subsidy in Nigeria.
Atiku has accused Tinubu’s administration of misappropriating public funds through the petrol subsidy, pointing out the government’s reluctance to disclose the exact expenditure on subsidy.
Atiku’s statement came in response to the Presidency’s dismissal of a leaked document indicating that the government spent N3.6 trillion on subsidy in 2023, with a projected expenditure of N5.4 trillion for 2024.
Special Adviser on Information and Strategy Bayo Onanuga, had on Thursday, refuted the document as false.
Atiku accused Tinubu of replicating the opaque governance style associated with his tenure in Lagos at the federal level.
He cited contradictory statements within Tinubu’s administration, with the Special Adviser on Energy, Olu Verheijen, suggesting intermittent interventions and Finance Minister Wale Edun describing subsidy removal as an “ongoing process.”
Atiku further noted that despite a document from the Coordinating Minister of the Economy detailing subsidy payments, the authors have since disowned it. He cited reports from both the World Bank and the IMF affirming that Nigeria continues to pay petrol subsidies, contradicting the government’s stance.
He argued that Tinubu’s inconsistencies and lack of transparency could deter foreign direct investment, which Tinubu claims to be prioritising. Atiku emphasised the need for the Tinubu administration to be accountable and transparent about its policies and financial practices, particularly since Tinubu also serves as the petroleum minister.
Atiku concluded by stating that the denial of the subsidy payments’ details supports suspicions that funds intended for the Federation Account, which should be distributed to states and local governments, are being misappropriated without accountability.
He called on the Tinubu administration to responsibly own and be transparent about their policy decisions and their financial implications for the country.
Atiku’s statement, issued on Thursday, reads:
“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 subsidy was beyond 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 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.
“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.”