$1b social fund: ADC accuses Tinubu of panic response to subsidy removal plot

The African Democratic Congress (ADC) has described the federal government’s $1 billion household prosperity and economic social protection project (HOPE-SP) as a response to its presidential candidate Atiku Abubakar’s proposal for a targeted production subsidy.

The former vice-president recently pledged to restore the petrol subsidy if elected, proposing a targeted, capped, transparently budgeted and independently audited intervention to support domestic refining and production.

In a statement issued on Thursday, Bolaji Abdullahi, ADC national publicity secretary, said the initiative, launched on Wednesday, was an attempt by President Bola Tinubu’s administration to respond to the hardship caused by its economic reforms ahead of the 2027 elections.

The federal government launched HOPE-SP in Abuja, with the ministry of humanitarian affairs and poverty reduction describing it as a shift from palliatives to sustainable pathways for recovery, empowerment and self-reliance.

According to the federal government, the project, themed “From palliatives to pathways”, is aimed at strengthening Nigeria’s social protection and humanitarian response architecture.

Oluremi Tinubu, first lady and special guest of honour at the event, said the initiative would improve the identification, targeting and support of vulnerable households.

“The initiatives are designed to improve the identification, targeting and support of vulnerable households, strengthen coordination across humanitarian and poverty-reduction programmes, provide shock-responsive assistance, and promote accountability and measurable outcomes,” she said.

ADC QUESTIONS TIMING OF $1BN PROGRAMME

However, the ADC accused the government of impoverishing Nigerians through what it described as failed economic policies before introducing a social protection programme to cushion their effects.

The opposition party’s spokesperson questioned why the government had only now introduced the $1 billion intervention after Nigerians had endured years of rising food, transport and energy costs.

“For three years, Nigerians have cried under the weight of food prices, transport costs and collapsing purchasing power, while this government insisted that there was no money to cushion the effects of its reforms,” he said.

“Now that elections are approaching, it has suddenly found $1 billion for the poor.”

Abdullahi said the government’s decision to launch a social protection programme amounted to an acknowledgement that Nigerians required protection from the economic shocks associated with its reforms, including petrol subsidy removal.

According to him, the programme is consistent with Atiku’s proposal for a targeted production subsidy aimed at reducing the cost of living.

“The government dismissed that proposal, and its officials told Nigerians that subsidy, in whatever form, was impossible. Yet, almost immediately, it has announced a billion-dollar programme to support Nigerians from the consequences of its evil policies,” Abdullahi said.

He also questioned why the government had taken three years to introduce what it described as measures to cushion the effects of its reforms.

‘IS THIS A VOTE-BUYING PROGRAMME?’

Abdullahi also questioned the structure of the HOPE-SP initiative, particularly the role of the first lady in its launch.

He said while there was nothing unusual about the president’s wife lending her voice to humanitarian causes, the opposition party is concerned about an unelected official unveiling a federal government programme involving $1 billion.

“Is this a federal government programme or a project of the First Lady? Who exactly is funding it? Under which budget head or financing arrangement was the money approved?” he asked.

He also sought clarification on the approval process, the institution responsible for accounting for the funds and who would control their disbursement.

The ADC spokesperson said the questions are necessary because public expenditure should be subjected to established legal and accountability mechanisms.

He also questioned whether the proposed one-off N40,000 “shock-response payment” would amount to a vote-buying scheme ahead of the 2027 elections.(TheCable)