New Subsidy Regime Fraudulent, Opaque – Atiku Knocks Tinubu
Nigeria’s former Vice-President and Peoples Democratic Party (PDP) flag bearer in the 2023 presidential election, Atiku Abubakar says the credibility of the present administration is being called to question daily, citing the continuous payment of petrol subsidy as the latest incident in its opaque and non-accountable behaviour.
The reaction is coming on the heels of reports that President Bola Tinubu has approved the Nigerian National Petroleum Company Limited (NNPCL)’s request to use the 2023 dividends due to the federation for petrol subsidy payment.
Writing on his Verified Facebook page, Atiku said latest revelations on the Premium Motor Spirit (PMS) subsidy regime represent another disturbing chapter in the non-transparent governance structure operated by the All Progressives Congress (APC)-led administration.
The Wazirin Adamawa maintained that current developments have put a lie to the President’s declaration in a National broadcast that the subsidy regime is gone for good.
According to him; “Disclosures prior to his announcement have consistently indicated a resurgence of subsidy payments, albeit through less transparent means.
“This dissonance between the President’s words and his actions not only undermines the moral fabric of his leadership but also significantly erodes the credibility of his administration.
“At a time when the nation grapples with severe fuel scarcity and escalating energy costs, the continued delays in the re-operation of the Port Harcourt refinery stand as a national disgrace — a failure that rests firmly on the shoulders of President Tinubu, who also holds the office of the Minister of Petroleum Resources.
“Moreover, the persistent denials by NNPC Limited only exacerbate the plight of Nigerians, who endure severe difficulties due to fuel shortages and resultant price inflations.
“Amidst a contentious dispute between local investors favouring refinery operations and those advocating for imported PMS, the President’s silence is profoundly disconcerting.”
However, the PDP Standard bearer in the last general election, insisted that it has become paramount for Mr President, who is intrinsically responsible for overseeing and intervening in such critical disputes to safeguard national interests, to step up to fulfil these expectations in the overall interest and good of Nigerians.
Atiku further stated thus; “The veil of secrecy shrouding the downstream petroleum sector, coupled with alarming reports of NNPC Limited diverting funds intended for other purposes to cover subsidy payments, adds layers of confusion that are unbearably unsettling.
“If these reports hold true, they portend grave implications for the integrity of our fiscal federalism. It is imperative, therefore, that the Tinubu administration urgently clarifies the entanglements surrounding the subsidy policy and the refining of PMS.
“Only through transparent governance can Nigerians hope to find relief from the current debilitating conditions of fuel scarcity and the spiralling inflation affecting petroleum products”.
Available information in the media indicate that President Tinubu approved the suspension of the payment of 2024 interim dividends to the Federation Account so that the oil giants can readily augment its cash flow.
Repeated denials by the government over non-payment of fuel subsidy notwithstanding, emerging report shows the NNPCL will be deploying the 2023 final dividends meant for the federation to underwrite the subsidy cost as per Mr President’s approval.
