Former Vice President Atiku Abubakar has accused President Bola Ahmed Tinubu of misleading Nigerians about the administration’s stance on petrol subsidy. Atiku claims that despite public declarations of subsidy removal, the government continues to pay trillions of naira in subsidies, potentially reaching N5.4 trillion in 2024.
This accusation follows a draft report from the Accelerated Stabilization and Advancement Plan (ASAP) presented to Tinubu, indicating a significant increase in subsidy expenditure compared to previous years.
The draft ASAP report, presented by the Minister of Finance, Wale Edun, suggests that petrol subsidies will consume N5.4 trillion in 2024, a substantial rise from the N3.6 trillion budgeted for 2023 and N2 trillion in 2022. Edun stated that the government’s strategy involves a gradual shift from petroleum imports to Compressed Natural Gas (CNG) as a means to eliminate fuel subsidies. He emphasized that the removal of fuel subsidies is an ongoing process dependent on multiple factors and is aligned with Tinubu’s policy direction.
In his response, Atiku criticized Tinubu for alleged deception and ineffective economic policies. He urged the administration to provide transparency regarding the fuel subsidy regime. payments and lack of clarity, are inadequate and do not serve the interests of Nigerians.
Source: Daily Trust