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The Allied Peoples Movement (APM) has charged the National Assembly and the Economic and Financial Crimes Commission (EFCC) to investigate an alleged N12 trillion discrepancy in the savings from the removal of fuel subsidy.
The APM, in a statement by its National Publicity Secretary, Abubakar Yusuf, said this was imperative to ensure that every saving from the removal of fuel subsidy is completely accounted for.
President Bola Tinubu had, on May 29, 2023, announced the end of the fuel subsidy regime. Recently, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed that N15.8 trillion was realised as subsidy removal savings from June 2023 to December 2025.
However, the APM, while referencing the immediate past Finance Minister, Wale Edun, said the fuel subsidy savings were not less than N27 trillion.
The opposition party stated that the N12 trillion differential was enough to build a new 250,000 to 300,000 bpd-capacity refinery, with huge positive economic impacts through massive employment and ancillary investments in by-products, while helping to push down prices in the country.
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It added that it was also enough to build a standard 1,000-kilometre railway that could connect Lagos to Abuja and other parts of the country, with the requisite benefits for citizens.
“The APM therefore petitions the EFCC to investigate the N12 trillion discrepancy by inviting the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, his predecessors in office, Wale Edun, as well as officials of the Ministry of Petroleum Resources for questioning.
“The APM also calls on the National Assembly to be on the side of the people and immediately conduct an open inquest into the missing subsidy savings.
“The APM assures that it will not rest on its oars until every kobo from the subsidy savings is accounted for.
“Our Party urges Nigerians to remain strong and united as they rally behind our Presidential candidate, Engr Seyi Makinde in the collective quest to rid our nation of corruption, end inefficiency and reset Nigeria to the path of productivity, transparency and economic prosperity,” the opposition party stated.
