Tinubu-led Administration Diverting Funds Through Secret Petrol Subsidy – Atiku Says

Former Vice President Atiku Abubakar on Thursday, June 6, 2024, accused the President Bola Ahmed Tinubu-led administration of diverting public funds through what he described as ‘clandestine subsidy on petrol which formed the basis why the Federal Government has refused disclose how much is being spent on subsidy.

He said for Tinubu, who claimed 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.

Atiku said that President Tinubu must come clean on this subsidy issue since he doubles as petroleum minister

Atiku, who stated these while reacting to a statement from the presidency, specifically said that the clandestine subsidy regime was one of the reasons investments in the oil sector had refused to come in.

The 2023 presidential candidate of the Peoples Democratic Party, said that Tinubu has brought the shady nature of running Lagos to the federal level, stressing that while the president claimed that subsidy was gone, his Special Adviser on Energy, Olu Verheijen, said the government was intervening from time to time, just as the Finance Minister, Wale Edun, described subsidy removal as an ‘ongoing process’.

In the words of Atiku; “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.

“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.

“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,” Atiku said.

The former Vice President said the denial of payment of subsidy by the Tinubu-led government 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.

He therefore challenged the National Assembly to get to the bottom of the matter rather than focusing on frivolous issues.

Atiku further said; “The National Assembly needs to be alive to its responsibilities, especially in the area of oversight. Posterity will not be kind to members of the National Assembly if they continue to look the other way while daylight robbery is taking place”.