The Allied People’s Movement (APM) has called on President Bola Tinubu to provide a comprehensive account of the trillions of naira generated from the removal of the fuel subsidy since May 2023.
In a statement issued by its National Publicity Secretary, Abubakar Yusuf, the party said the Federal Government’s repeated assurances that the subsidy savings are being invested in critical sectors are insufficient without clear financial records and verifiable evidence of how the funds have been spent.
According to the APM, claims that the proceeds have been channelled into development programmes and welfare initiatives fall short of the level of transparency and accountability Nigerians expect.
President Tinubu announced the removal of the petrol subsidy during his inauguration on May 29, 2023, declaring that “subsidy is gone.”
The decision ended the decades-long subsidy regime and led to a sharp increase in fuel prices, higher transportation costs, and a rise in the prices of goods and services nationwide.
More than three years later, the APC-led Federal Government has maintained that savings from the policy have been invested in interventions designed to improve citizens’ welfare and support national development.
However, the government’s position has continued to generate mixed reactions. While some Nigerians point to progress in certain sectors, others argue that the expected benefits have yet to materialise, citing persistent economic hardship, rising living costs, and declining purchasing power.
The APM urged the Federal Government to publish a detailed and independently verifiable report on the implementation of the subsidy removal policy. The party said the report should disclose the total amount saved since May 2023, the projects financed with the funds, and the locations where those projects have been executed.
According to the party, Nigerians have a right to know how the proceeds from one of the country’s most significant economic reforms have been managed.
