Atiku slams Tinubu over secret fuel subsidy payments

Mkpoikana Udoma

Port Harcourt — Former Vice President Atiku Abubakar, has issued a stern demand for clarification from President Bola Tinubu regarding the alleged secret payment of fuel subsidy, contradicting the President’s public claims of ending the program.

Atiku’s call for transparency comes amidst the ongoing national crisis of fuel scarcity and escalating energy costs, exacerbated by the delayed commencement of operation at the Port Harcourt refinery.

According to reports, President Bola Tinubu has approved a request by the Nigerian National Petroleum Company Ltd to utilise the 2023 final dividends due the federation to pay for petrol subsidy.

The President also approved the suspension of the payment of 2024 interim dividends, taxes and royalties of about N3.987trillion to the federation in order to augment NNPC Ltd’s cash flow and subsidy payments, according to a report by TheCable.

Reacting on the development, the PDP Presidential Candidate in the 2023 general elections criticized President Tinubu’s silence on the matter and the persistent denials by NNPC Limited, which have only added to the plight of Nigerians.

Atiku demanded urgent clarification on the subsidy policy and refining of PMS, warning of grave implications for the integrity of fiscal federalism if the reports are true.

He said, “The latest revelations circulating through credible media outlets regarding the federal government’s covert continuation of the subsidy on 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.

“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 inflation. 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 fulfil 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,” former VP said.