APM asks FG to explain use of fuel subsidy removal proceeds

The Allied People’s Movement (APM) has challenged the All Progressives Congress (APC)-led Federal Government to account for the proceeds of fuel subsidy removal amid the increasing suffering and hunger in the country.

The party recalled that President Bola Tinubu, upon inauguration in May 2023, announced the removal of the subsidy on petrol, promising to invest the proceeds in providing social welfare to the people and addressing security and economic hardship.

However, the APM alleged on Thursday that over three years on and over N20trillion reportedly saved from subsidy proceeds, Nigerians had not fared better.

“APM’s demand is predicated on the worsening economic hardship and poverty rate, high cost of living, collapsed public facilities and yawning infrastructure deficit across the country since the emergence of the Tinubu administration despite huge national inflow including the over N20 trillion proceed from the removal of fuel subsidy, which the administration promised would be channeled towards improving the welfare of Nigerians.

“For over three years, Nigerians have endured unprecedented hardship following President Tinubu’s May 29, 2023 declaration that ‘subsidy is gone’.

“This came with an instant surge in fuel price from below ₦200 per litre to now over N1,500 per liter setting off a chain reaction that pushed transport fares, food prices, school fees, medical bills, house rents, electricity costs and the prices of everyday goods and services far beyond the reach of ordinary citizens”, the party’s National Publicity Secretary, Honourable. Abubakar Yusuf, stated in Abuja.

The APM also noted that allegations of unresolved corruption cases had grown over the last three years, adding that infrastructure deficit continued to worsen under the administration.

It said, “More distressing is reports of massive corruption, diversion and frittering of bulk of the funds accruable to the Federal Government while officials continue to bandy figures and fictitious achievements.

“Under the APC administration hunger has become a national emergency. Millions of families are going without daily meals. Small businesses are collapsing under rising operating costs. The purchasing power of workers has been abysmally degraded, while poverty and unemployment continue to rise at alarming rates. Across the country, frustration is growing as more citizens struggle to survive.

“Today under the APC, Nigeria’s infrastructure deficit has hit an estimated $2.3 trillion, with experts stating that the gap would require approximately $100 billion annually over the next 30 years.”

According to the APM, Nigerians have yet to be informed on how much the administration saved from subsidy removal and how it has utilised the funds so far.

“Despite the heavy premiums citizens pay daily, the APC administration is not forthcoming with a transparent account of the trillions accrued to it from the removal of subsidy. No comprehensive public record has been presented to demonstrate how much has been realized, how much has been spent, and whether those expenditures have translated into measurable improvements in the lives of citizens

“The vague claims by the APC government that the proceeds are being invested in critical sectors without real figures and specific projects or programmes is completely unacceptable and cannot substitute for transparency and accountability”, the APM added.

The party called on the government to immediately give a detailed account of the subsidy proceeds and the utilisation in verifiable sources.

The party stated further, “The APM therefore demands that the Federal Government immediately publish a detailed and independently verifiable impact assessment of the subsidy removal policy. Nigerians deserve to know the exact amount saved since May 2023, the projects funded and their locations.

“The APM is not opposed to reforms that genuinely advance national development. However, the APC government cannot continue to celebrate figures on paper while millions of citizens can no longer afford decent meals, healthcare, transportation, or quality education. The true measure of any economic reform is not the volume of official pronouncements but its tangible impact on the lives of the people.

“The APM therefore calls on the Tinubu administration to rise above political rhetoric and immediately release a comprehensive public report detailing the total subsidy savings since May 2023, all expenditures made from the fund, the beneficiaries of every intervention, and the measurable outcomes achieved.

“The APM, the voice of Nigerians today, is not asking the Tinubu-led APC Federal Government to do anything extraordinary. We are simply demanding the transparency and accountability that an APM administration would have seamlessly demonstrated by publicly disclosing and accounting for every kobo that belongs to Nigerians.”