Tell Nigerians The Truth – APM Rejects FG’s Report On Fuel Subsidy Saving

President Bola Tinubu’s administration has been accused of misleading Nigerians over the amount saved and spent following the removal of fuel subsidy when it took over government.

Naija News reports that the Allied Peoples’ Movement (APM), in a statement signed and issued on Thursday by its National Publicity Secretary, Abubakar Yusuf, asserted that its July 9 demand for a comprehensive account of the money generated from subsidy removal forced the Federal Government to provide its latest report.

However, it described the government’s account of the funds as a “litany of lies, inconsistencies and false claims”, insisting that several questions remain unanswered.

The APC insists that the government’s response had failed to properly account for the funds.

APM Rejects ₦15.8 Trillion Claim By Oyedele

One of the major issues raised by the opposition party was the Federal Government’s claim that only ₦15.8 trillion was saved from subsidy removal.

The APM said the reported figure contradicted an earlier revelation by former Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

“For a start, the APM rejects the claim by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, that only N15.8 trillion was realized as subsidy removal saving.

“Perhaps he forgot that his predecessor in office, Wale Edun, told Nigerians in November 2024 that the nation had saved an estimated $20 billion (N26.9 trillion) from subsidy removal,” Yusuf said.

The APM asked the government to clarified the difference between the figures provided by the two ministers.

It also asked the administration to disclose the total amount saved since November 2024, noting that more savings would have been generated between then and 2026.

“The Tinubu administration must come clean on the exact amount currently saved, especially given that more savings have been garnered between November 2024 and 2026,” the party said.

APM Demands Details Of Funds Shared

The opposition camp also questioned Tinubu government’s claim that ₦5.4 trillion went to the Federal Government, while ₦10.4 trillion was shared among the state and local governments.

The APM said Nigerians deserved to know exactly how the money was distributed and what it was used for.

“Instead of resorting to blanket claims, we demand that 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 party said.

The APM insisted that simply announcing the total amount shared was not enough without providing details of the beneficiaries and how the funds were spent.

It also faulted the Federal Government’s claim that ₦9.39tn from additional resources generated through subsidy savings, independent revenue and borrowing was spent on workers’ wages and student loans.

According to the party, the explanation appeared to shift public anger towards civil servants and students instead of addressing the concerns surrounding the management of the funds.

“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,” Yusuf said.

The party argued that Nigerian workers and students should not be blamed for the economic challenges facing the country.

The opposition party also rejected the Federal Government’s claim that its economic reforms had brought significant benefits to Nigerians.

The APM noted that many Nigerians were yet to feel the impact of the reforms, citing the rising cost of living, poverty, unemployment and the country’s infrastructure deficit.

It called for greater transparency in the management of public funds, particularly money generated from the removal of petrol subsidy.

The party further urged Nigerians to use the 2027 general elections to reject what it described as the misrule of the All Progressives Congress.