Atiku: Funds being diverted through petrol subsidy… FG must come clean

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Former Vice-President Atiku Abubakar has accused President Bola Tinubu’s administration of diverting public funds through petrol subsidy.

Abubakar also claimed that the federal government has refused to reveal how much is being spent on subsidy.

On Wednesday, it was reported that the federal government may suspend import duties on food and drugs according to a document titled ‘Inflation reduction and price stability (Fiscal Policy Measures) Order 2024’.

Also, it was reported that the federal government proposed N5.4 trillion for petrol subsidy before the year ends based on a document titled ‘Accelerated stabilisation and advancement plan (ASAP)’.


However, on Thursday, the presidency said the two fiscal policy documents in circulation have not been approved by the federal government.

Quoting Wale Edun, the coordinating minister of the economy, the presidency said it is important to understand that “policymaking is an iterative process involving multiple drafts and discussions before any document is finalised”.

The presidency said Edun had assured the public that the official position on the documents would be made available after comprehensive reviews and approvals were completed.


The presidency added that the government has not budgeted N5.4 trillion for petrol subsidy in 2024.

In a statement issued by Paul Ibe, his media adviser on media, Abubakar claimed that Edun is disowning a document he authored.

“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,” Abubakar was quoted as saying.

“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 being 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.

“There is a need for the National Assembly to get to the bottom of the matter rather than focusing on frivolous issues.”

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