Atiku says Tinubu ‘diverting’ public funds through secret petrol subsidy, calls for NASS probe

• Atiku castigated the subterranean subsidy regime, which he believes is driving away investment in the oil sector.

Atiku Abubakar, the Presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, has bemoaned the lack of transparency, openness and accountability in the payment of petrol subsidy.

Atiku said President Bola Tinubu is replicating, at the federal level, the Lagos-style opaque practices in public finance and administration, which he said is the hallmark of his government when he was the governor of the South West state and still continues to date.

In a statement on Thursday, he accused Tinubu administration of diverting public funds through the petrol subsidy scheme, adding that this is why the government has been evasive how much is being spent on the subsidy.

Atiku in the statement, which is in response to a statement from the presidency, castigated the subterranean subsidy regime, which he believes is driving away investment in the oil sector.

Atiku stated, “Tinubu has brought the opaque practices of running Lagos to the federal level. He claims the subsidy is gone, but his Special Adviser on Energy, Olu Verheijen, says they are intervening from time to time, while his Finance Minister, Wale Edun, describes subsidy removal as an ‘ongoing process’. A document by the Coordinating Minister of the Economy revealing the subsidy amount is now being disowned by its authors.”

He noted that both the World Bank and the IMF have reported that Nigeria is still paying petrol subsidies, despite the Tinubu government’s refusal to acknowledge it. A senior member of the APC also revealed that the subsidy payments were continuing.

Atiku emphasized the inconsistency of Tinubu’s policies, arguing that such flip-flops and misinformation could deter foreign direct investment.

He urged the President to be transparent about the subsidy issue, given his role as petroleum minister.

“The Tinubu administration should have the courage to own their policies and outcomes and be accountable to Nigerians for their actions,” Atiku said. He further claimed that the denial of the subsidy payments suggests that funds meant for the Federation Account, which should be shared with states and local governments, are being diverted without accountability.

Atiku implored the National Assembly to investigate the matter thoroughly instead of focusing on less important issues.

He stressed, “The National Assembly needs to fulfill its oversight responsibilities. Posterity will not be kind to its members if they continue to ignore the ongoing daylight robbery.”