In a statement issued by its National Publicity Secretary, Abubakar Yusuf, on Thursday, the APM said the APC government’s claims that the proceeds are being invested in critical sectors, without providing concrete figures or identifying specific projects and programmes, are unacceptable and fall short of the transparency and accountability Nigerians deserve.
Tinubu, in his inauguration speech on May 29, 2023, announced that “subsidy is gone,” ending the long-standing petrol subsidy regime. The decision triggered a sharp increase in the pump price of fuel, leading to higher transportation costs and a rise in the prices of goods and services across the country.
More than three years later, the APC-led Federal Government has consistently maintained that the savings from the removal of the subsidy have been channelled into various interventions aimed at improving citizens’ welfare and supporting national development.
The government’s position has, however, drawn mixed reactions. While some Nigerians acknowledge improvements in certain sectors, others continue to question the impact of the subsidy savings, citing persistent economic hardship, rising living costs, and declining purchasing power.
APM called on the Federal Government to immediately release a detailed and independently verifiable assessment of the impact of the fuel subsidy removal policy, insisting that Nigerians have the right to know the total amount saved since May 2023, the projects financed with the funds, and where those projects are located.
The statement read in part, “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 proceeds from the removal of fuel subsidy, which the administration promised would be channelled 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.
“More distressing are reports of massive corruption, diversion and frittering of the 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.”
The party said it supports reforms that promote national development but argued that the APC government cannot celebrate economic gains while millions of Nigerians struggle to afford basic necessities.
It continued, “Today, under the APC, Nigeria’s infrastructure deficit has hit an estimated 100 billion annually over the next 30 years.
“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 the subsidy. No comprehensive public record has been presented to demonstrate how much has been realised, 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 are completely unacceptable and cannot substitute for transparency and accountability.
“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.”
APM said the success of any economic reform should be measured by its impact on the lives of Nigerians, not by government rhetoric.
The party stated, “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.”
