Account for subsidy savings, APM tells Tinubu

Nigeria's Allied People's Movement (APM) has challenged the President Bola Tinubu administration to publicly account for the trillions of naira generated from the removal of fuel subsidies. The party insists that the policy's success should be measured by its impact on Nigerians' lives, not just official statements.

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The true measure of any economic reform is not the volume of official pronouncements but its tangible impact on the lives of the people.

APM claims that over three years since the subsidy removal, many Nigerians have yet to experience the promised benefits. Instead, households are reportedly struggling with escalating living costs, increased poverty, and deteriorating public services, despite assurances that savings would fund citizen welfare programs. The party estimates the savings to be over 20 trillion naira.

Hon. Abubakar Yusuf, APM's National Publicity Secretary, accused the Federal Government of failing to provide a transparent account of the subsidy removal proceeds since May 2023. The APM is calling for a comprehensive, independently verifiable assessment detailing the total amount realized, the projects funded, their locations, beneficiaries, and measurable outcomes.

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subsidy is gone

"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 party stated. APM highlighted worsening economic hardship, citing rising poverty, soaring living costs, deteriorating public services, and Nigeria's infrastructure deficit, despite substantial revenues allegedly generated by the policy. They noted that petrol prices surged from below ₦200 to over ₦1,500 per liter immediately after President Tinubu's May 29, 2023 declaration, triggering widespread price increases.

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

APM also alleged that reports of corruption and fund diversion have fueled public concern, with government officials allegedly issuing conflicting figures and making fictitious claims of achievement. Yusuf criticized the government's vague assertions about investing proceeds in critical sectors without specific figures or projects, deeming them unacceptable substitutes for transparency and accountability. The party emphasized that hunger has become a national emergency, with millions of families struggling to afford food and businesses facing rising operating costs.

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