The Allied People’s Movement (APM) has urged the administration of President Bola Tinubu to provide a clear financial report regarding the funds saved from ending the fuel subsidy. According to the party, the government must prove the success of the policy through tangible improvements in the daily lives of citizens rather than just through verbal claims.
National Publicity Secretary Hon. Abubakar Yusuf stated that despite the removal of the subsidy in May 2023, the public has yet to witness the anticipated benefits. Instead, citizens are facing severe economic pressure, including rising costs for food, transportation, housing, and essential services. The APM estimates that over N20 trillion has been generated by this policy since its inception.
In its formal request, the party called for a detailed, independently verified report. This report should specify the total revenue gathered since May 2023, identify the specific projects funded by these savings, list the locations and beneficiaries, and outline the actual results achieved. The APM criticized the current administration for offering vague explanations about investments while failing to provide concrete data.
Furthermore, the party highlighted that the declaration of the subsidy removal caused petrol prices to jump from under ₦200 to over ₦1,500 per litre. This shift has crippled small businesses and reduced the purchasing power of workers. The APM noted that while it supports economic progress, the government must prioritize transparency to address the growing national emergency of poverty and food insecurity. It concluded by demanding an immediate accounting of how these billions have been spent to improve the lives of Nigerians.
