Atiku: Tinubu administration is misappropriating money through a covert gasoline subsidy

Atiku: Tinubu administration is misappropriating money through a covert gasoline subsidy

The government has refused to disclose the amount spent on the gasoline subsidy because Atiku Abubakar, the Peoples Democratic Party’s (PDP) nominee for president in the 2023 election, has accused

the Bola Tinubu administration of misappropriating public monies.

In response to a statement from the presidency, Atiku made this declaration in a statement on Thursday.

The former vice president claimed that one of the reasons for the refusal of investors to enter the oil sector was the covert subsidy regime.

“Tinubu has elevated the shady nature of running Lagos to the federal level,” he declared. His Finance Minister, Wale Edun, referred to the withdrawal of subsidies as a “ongoing process,” despite his claims

that they are no longer there. His Special Advisor on Energy, Olu Verheijen, asserts that they are still occasionally intervening. The Coordinating Minister of the Economy wrote a paper that disclosed the

amount of subsidies received, but the authors of the document are now denying any involvement in it.

Nigeria is still paying for gasoline subsidies, according to independent reports from the World Bank and the IMF, but the Tinubu administration won’t admit it. Even a high ranking APC official has acknowledged

that the subsidy was overpaid.

It is ironic that a man who professes to be working to entice foreign direct investment is blind to the fact that his lies and policy reversals could turn off potential investors. Given his dual function as petroleum

minister, he needs to be transparent about this subsidy issue. The Tinubu administration ought to possess the bravery to fully embrace its policies and results, as well as the maturity to answer to Nigerians for their deeds.

“This denial provides evidence that funds intended for the Federation Account—which should be distributed to state and local governments—are being misappropriated with no accountability at all.

“Instead of concentrating on pointless matters, the National Assembly must investigate the situation thoroughly.

“The National Assembly must be conscious of its obligations, particularly with regard to supervision. The former vice president warned that members of the National Assembly would not fare well in the eyes of

history if they continue to turn a blind eye to daylight robbery.