Follow Us on Google
From Ndubuisi Orji, Abuja
The Allied Peoples Movement (APM) has dismissed claims by the Federal Government that it saved N15.8 trillion from the removal of fuel subsidy from June 2023 to December 2025 as untrue.
The APM, in a statement by its National Publicity Secretary, Abubakar Yusuf, accused the All Progressives Congress (APC) led Federal Government of allegedly trying to hoodwinked Nigerians on the fuel subsidy savings.
Recall that President Bola Tinubu, in his inaugural speech on May 29, 2023 had declared the end of the fuel subsidy regime, resulting in sharp increase in the pump price of Premium Motor Spirit ( PMS).
The Minister of Finance, Taiwo Oyedele, had in a recent report, explained that the government saved N15.8 trillion, from the removal of fuel subsidy , out of which the Federal Government received N5.4 trillion, while N10.4 trillion was shared among states and local government areas.
Nonetheless, the APM, while faulting Oyedele’s figure, stated that the immediate past Minister of Finance, Wale Edun, had in November 2024, stated that the country had saved an estimated $20 billion, (N26.9 trillion) from subsidy removal.
The opposition party said “Nigerians may recall that it took the APM’s revelation of corruption on the handling of the proceeds of subsidy removal and insistence on a comprehensive account via our statement on July 9, 2026, before the Tinubu administration came up with a report laced with unsupported figures and false performance claims.
“For a start, the APM rejects the claim by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele that only N15.8 trillion was realized as subsidy removal saving. Perhaps he forgot that his predecessor in office, Wale Edun told Nigerians in November 2024 that the nation had saved an estimated $20 billion, (N26.9 trillion) from subsidy removal.
“The disparity in these figures further validates allegations of looting and raises serious questions on the overall integrity of the report including its spending claims. The Tinubu administration must come clean on the exact amount currently saved especially given that more savings have been garnered between November 2024 and 2026.”
The APM added that “on the issue of the spending of the fund, the APM and Nigerians are not fooled by APC’s illusory pattern of bandying and muddling up figures with wholesale claims without details, just to confuse the unsuspecting public.
“The vague claim that out of the now belied N15.8 trillion, the Federal Government received only N5.4 trillion, while N10.4 trillion was shared among states and local governments across the country remain unsubstantiated.
“Instead of resorting to blanket claim, we demand that the Federal Government should provide a detailed breakdown of the funds shared to each state and local government, the dates of disbursement and the specific purposes for which the money was deployed. The diversionary attempt to shift the question to states and local government does not help the Tinubu administration.
“Also, our party holds as callous, the attempt by the APC to heap the burden of corruption on innocent civil servants and students by claiming that N9.39 trillion out of the total incremental resources from subsidy savings, independent revenue and borrowings during the period went into payment of workers’ wages and students’ loans.”
Furthermore, the party accused the government of alleged attempts to pitch Nigerians against the innocent civil servants and students, noting that government claims is capable of triggering more increase in the cost of living and make life more unbearable for Nigerians.
“The APM also finds the claims by the Federal Government that its reforms have benefited Nigerians even in the face of the excruciating hardship in the country where more than 140 million Nigerians now live below the poverty line with staggering 63% poverty rate, frightening 33.3% unemployment rate and estimated $2.3 trillion infrastructure deficit as the height of President Bola Ahmed Tinubu administration’s insensitivity to the plight of the citizens.
“The APM however urges Nigerians not to despair but continue to rally with our Party and presidential candidate, Engr. Seyi Makinde as we use the 2027 election to end the APC misrule and enthrone a truthful, transparent and trustworthy leadership that will reposition our nation and return her to the path of peace, national cohesion and economic prosperity,” the opposition party stated.
