VMT News Ltd
No 1 News Site in Nigeria

Fuel Subsidy Scandal: Atiku Accuses Tinubu of Diverting Public Funds


In a bold statement issued on Thursday in Abuja, Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, has leveled serious accusations against President Bola Tinubu’s administration.

Atiku claims that the government is secretly diverting public funds through undisclosed payments for fuel subsidies. This assertion raises concerns about transparency and governance in the current administration.

Atiku criticized the lack of transparency surrounding the fuel subsidy payments, highlighting the administration’s failure to disclose the expenditure details. He emphasized that this secrecy is detrimental to the country’s economic stability and investment climate, particularly in the oil sector.

“President Tinubu has imported the opaque governance style from Lagos to the federal level,” Atiku stated. “He publicly claims that fuel subsidies have been abolished, yet his Special Adviser on Energy, Olu Verheijen, admits to intermittent interventions, and his Finance Minister, Wale Edun, describes subsidy removal as an ‘ongoing process’. This contradictory messaging is confusing and problematic.”

The former Vice President also referenced a controversial document authored by the Coordinating Minister of the Economy, which outlined the subsidy payments. Despite its official origin, the document has since been disowned by its creators, further muddying the waters.

International organizations such as the World Bank and the International Monetary Fund (IMF) have corroborated Atiku’s claims, indicating in separate reports that Nigeria continues to pay fuel subsidies.

Despite these revelations, the Tinubu administration has not provided clear information to the public. Atiku pointed out that even a senior member of the ruling All Progressives Congress (APC) has admitted to ongoing subsidy payments.

For a president who professes a commitment to attracting foreign direct investment, Atiku argued, Tinubu’s inconsistent policies and lack of transparency are likely to deter potential investors. “President Tinubu must be forthright about the subsidy issue, especially given his dual role as the Minister of Petroleum. The administration needs to be accountable for its policies and their outcomes,” he insisted.

Atiku further accused the administration of diverting funds meant for the Federation Account, which should be shared among states and local governments.

He called for greater accountability and urged the National Assembly to investigate the matter thoroughly instead of being preoccupied with less critical issues.

“The National Assembly must fulfill its oversight responsibilities. History will not be kind to its members if they continue to ignore this blatant misappropriation of funds,” Atiku warned.

The issue of fuel subsidies has long been a contentious topic in Nigeria, affecting the country’s economy and governance. The lack of clarity and the conflicting statements from government officials have only added to the confusion and mistrust among the public and international observers.

Atiku’s accusations bring to light the urgent need for transparency and accountability in the handling of public funds. As the debate over fuel subsidies continues, it remains to be seen how the Tinubu administration will address these serious allegations and whether the National Assembly will take the necessary steps to investigate and ensure proper governance.

Atiku Abubakar’s statements have intensified the scrutiny of the Tinubu administration’s handling of fuel subsidies. His call for transparency and accountability echoes the sentiments of many Nigerians who demand honest and effective governance.

The outcome of this controversy will undoubtedly have significant implications for the country’s political and economic future.

Source: Punch

Support Voice Media Trust journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country, we ask you to consider making a modest support to this noble endeavour.

By contributing to Voice Media Trust, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate into:

Dollar Account:

  • A/C NO: 3003093745

Naira Account:

  • A/C NO: 1023717841

Leave a Reply