Atiku Abubakar, a former vice president has accused President Bola Tinubu of misleading international communities regarding Nigeria’s fuel subsidy removal.
In a strongly worded statement issued on Sunday by his Special Assistant on Public Communication, Phrank Shaibu, Atiku condemned Tinubu for spreading false information during his recent visits to New York, Qatar, and France.
Mr Abubakar, who was the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, argued that Tinubu’s claims about removing the subsidy were not only misleading but also detrimental to Nigeria’s efforts to attract Foreign Direct Investment (FDI).
He slammed the current administration for the ongoing fuel scarcity in Nigeria, despite Tinubu’s public statements about ending the subsidy.
Mr Abubakar further lambasted the government for perpetuating what he described as a fraudulent subsidy regime, as evidenced by the Nigerian National Petroleum Company Limited’s (NNPCL) recent financial disclosures.
According to the leading opposition figure, the NNPCL reported that the Nigerian government owes N7.8 trillion to the national oil company, contradicting Tinubu’s narrative of subsidy removal.
Mr Abubakar also highlighted an International Monetary Fund (IMF) estimate, which suggests that subsidy payments for the current year could amount to 3% of Nigeria’s GDP, equating to approximately $7.5 billion (N11.8 trillion).
He warned that the continuation of the subsidy, coupled with the government’s apparent efforts to undermine key energy infrastructure like the Dangote Refinery, could have severe long-term consequences, including potential misuse of funds in the lead-up to the 2027 elections.
