Atiku Lambasts Tinubu Over Continued Fuel Subsidy, Says Nigerian Government Under Him Lacks Morality, Credibility

 

 

 

 

 

 

 

 

 

 

 

 

 

Nigeria’s former Vice President, Atiku Abubakar, has blasted President Bola Tinubu for giving the Nigerian National Petroleum Company Limited (NNPCL) approval to continue payment of subsidy for Premium Motor Spirit (PMS), popularly known as fuel.

Atiku, a former presidential candidate of Peoples Democratic Party (PDP) in the 2023 general elections, said that continuation of the fuel subsidy payment after President Tinubu’s repeated firm insistence on removal of the patrol subsidy, is an indication that Tinubu’s government has no morality and credibility.

Atiku said this on Monday in a post on his X account while reacting to the report making the rounds on media that Tinubu gave the NNPCL approval for continuation of fuel subsidy payment.

SaharaReporters earlier reported that despite many denials by the Nigerian government on non-payment of fuel subsidies, President Tinubu gave approval to the NNPCL to use the 2023 final dividends owed to the federation to cover the cost of petrol subsidies.

The president reportedly approved a halt on the payment of 2024 interim dividends to the federation to help boost NNPC’s cash flow.

The NNPC informed the president that due to the subsidy payments, it is currently unable to pay taxes and royalties into the federation account, referring to this as a “subsidy shortfall/FX differential”.

In his reaction, Atiku said, “The latest revelations circulating through credible media outlets regarding the federal government’s covert continuation of the subsidy on Premium Motor Spirit (PMS) represent another chapter in the opaque governance under President Bola Tinubu’s administration.

“This development starkly contrasts with the President’s firm assertions in a national broadcast, which followed closely on the heels of public protests decrying poor governance, where he declared the subsidy regime concluded.

“However, disclosures prior to his announcement have consistently indicated a resurgence of subsidy payments, albeit through less transparent means.

“This dissonance between the President’s words and his actions not only undermines the moral fabric of his leadership but also significantly erodes the credibility of his administration.”

The former Vice President said “At a time when the nation grapples with severe fuel scarcity and escalating energy costs, the continued delays in the re-operation of the Port Harcourt refinery stand as a national disgrace — a failure that rests firmly on the shoulders of President Tinubu, who also holds the office of the Minister of Petroleum Resources.

“Moreover, the persistent denials by NNPC Limited only exacerbate the plight of Nigerians, who endure severe difficulties due to fuel shortages and resultant price inflations.

“Amidst a contentious dispute between local investors favouring refinery operations and those advocating for imported PMS, the President’s silence is profoundly disconcerting.

“It is paramount that the President, who is intrinsically responsible for overseeing and intervening in such critical disputes to safeguard national interests, steps up to fulfill these expectations.

“The veil of secrecy shrouding the downstream petroleum sector, coupled with alarming reports of NNPC Limited diverting funds intended for other purposes to cover subsidy payments, adds layers of confusion that are unbearably unsettling.

“If these reports hold true, they portend grave implications for the integrity of our fiscal federalism. It is imperative, therefore, that the Tinubu administration urgently clarifies the entanglements surrounding the subsidy policy and the refining of PMS.

“Only through transparent governance can Nigerians hope to find relief from the current debilitating conditions of fuel scarcity and the spiralling inflation affecting petroleum products.”(SaharaReporters)