Former Vice President of Nigeria, Atiku Abubakar, has accused President Bola Tinubu of making false claims during his visits to New York, Qatar, and France regarding the removal of fuel subsidies in Nigeria.
According to Atiku, who shared his views in a statement issued by his Special Assistant on Public Communication, Phrank Shaibu, Tinubu’s comments on this issue could harm Nigeria’s efforts to attract Foreign Direct Investment (FDI).
Atiku, who was the 2023 presidential candidate for the Peoples Democratic Party (PDP), expressed concerns that despite the government’s claims of ending fuel subsidies, the issue of petrol scarcity remains unresolved across the country. He criticized the Tinubu administration for continuing what he described as a “sham subsidy regime.”
In his statement, Atiku referenced the recent financial report released by the Nigerian National Petroleum Company Limited (NNPCL). He pointed out that the report contradicts Tinubu’s statements, as it reveals that the Nigerian government still owes the NNPCL N7.8 trillion in unpaid subsidies.
“Tinubu visited the FMDQ in New York, visited Qatar, visited France where he told lies about removing petrol subsidies. Obviously, this is not a man who is serious about attracting FDI. More worrisome is that he is not even brave enough to admit that subsidy is being paid. The NNPCL admits that N7.8tn is owed to the national oil company by the Nigerian government.
“IMF estimates that subsidy payments this year will constitute 3% of GDP, which is about $7.5bn. This will be about N11.8tn. Yet, the petrol scarcity continues to linger while the Tinubu administration continues to frustrate the Dangote Refinery and even its own NNPCL facilities. Obviously, the subsidy regime has become an even wider conduit pipe through which monies for funding the 2027 election will come from,” Atiku said.
