Former Vice President and Peoples Democratic Party (PDP) candidate, Atiku Abubakar, criticized President Bola Ahmed Tinubu’s government for its lack of transparency and honesty in managing the country’s affairs.
Atiku made this criticism after Finance Minister Wale Edun revealed that Nigeria would spend a massive amount, ₦5.4 trillion, on oil subsidies in 2024.
This revelation surprised many Nigerians because the government had repeatedly claimed to have stopped subsidizing petrol.
This contradiction arose after Tinubu declared in his first speech in May 2023 that the subsidy was abolished.
Edun’s confession about the return of the subsidy system was made during a presentation of a report called the Accelerated Stabilisation and Advancement Plan (ASAP). It showed that despite earlier denials, the government was still spending a huge amount on fuel subsidies.
“At current rates, expenditure on fuel subsidy is projected to reach ₦5.4 trillion by the end of 2024. This compares unfavorably with ₦3.6 trillion in 2023 and ₦2.0 trillion in 2022,” a draft copy of the ASAP presented by Edun said.
Read Also:At Last, FG Admits Paying Fuel Subsidy, Projects ₦5.4 Trillion in 2024.
The report contrasted with a statement credited to the Minister of State for Petroleum Resources, Heineken Lokpobiri, who, at a recent ministerial briefing to mark Tinubu’s one-year anniversary, insisted that fuel subsidy had been completely removed.
“I can confirm to you that subsidy is gone; officially, there is no subsidy; I want to make it clear that there is no subsidy in the country today,” Lokpobiri had claimed.
However, reacting in a statement on Wednesday, Atiku asked Tinubu to stop deceiving Nigerians about his administration’s true position on fuel subsidy.
He explained that contrary to the President’s public posturing about removing fuel subsidy, the Tinubu administration has been secretly paying trillions of naira as subsidy on Premium Motor Spirit (petrol).
The former Vice President noted that subsidy payments under Tinubu’s watch are likely to hit ₦5.4 trillion this year (2024).
Intel Region.
