- Atiku said Tinubu’s one year in office has been replete with “trial-and-error economic policies”
Former Vice President Atiku Abubakar says the president Bola Tinubu-led federal government is yet to get its act together on how to efficiently and successfully manage the Nigeria’s economy.
Atiku’s remark is coming on the heels of the revelation by the federal government that payment of subsidy is still in place and that fuel subsidy will gulp about N5.4 trillion in 2024.
Atiku stated that it’s deceptive for President Bola Tinubu’s administration to claim to have removed fuel subsidy while expenditure on fuel subsidy may reach an amount that’s significantly higher than the N3.6 trillion spent in 2023.
In a statement on his X handle on Wednesday, the Peoples Democratic Party, PDP, presidential candidate said Tinubu’s one year in office has been replete with “trial-and-error economic policies”
He stated the government paying subsidies and lying about it is nothing to be happy about, stressing that Nigerians deserve better than shenanigans and falsehoods.
He said: “President Bola Tinubu, at his inauguration on May 29, 2023, announced the abolishment of the subsidy on PMS, popularly known as fuel.
“Ever since, it has been a bragging right of Tinubu and officials of his administration.
“I had in my statement reviewing the one year of the Bola Tinubu administration, urged the government to come clean on the actual position of the subsidy policy.
“These were my exact words: “…provide clarity on the fuel subsidy regime, including the fiscal commitments and benefits from the fuel subsidy reform and the impact of this on the Federation Accounts. It is curious that since April 2024, fuel queues have mounted at many filling stations across Nigeria, and the infamous ‘black market’ has sprouted in several states. How much PMS is being imported and distributed, and at what cost? What is the implicit subsidy?”
“If the subsidy regime had been characterised by opaqueness, what would we say of a situation where the subsidy is still being paid undercover without Nigerians in the know?
“Like millions of Nigerians, I was shocked to learn through media reports that the “government is still supporting downstream consumption.”
“Now we know that expenditure on fuel subsidy may reach N5.4 trillion in 2024, compared to the N3.6 trillion spent in 2023, the same year that Tinubu claimed to have abolished fuel subsidy.
“I wish to restate that Nigeria is not working, and what we have had in a little over a year is a cocktail of trial-and-error economic policies. Paying subsidies and lying about it is nothing to brag about. Nigerians deserve better than this deception.”
Discussion about this post