The Allied People’s Movement (APM) has challenged the Federal Government and the ruling All Progressives Congress (APC) to publicly account for the funds generated from the removal of fuel subsidy, insisting that Nigerians deserve to know how the proceeds have been spent.
In a statement issued by the party’s National Publicity Secretary, Abubakar Yusuf, the APM said the call became necessary in view of the worsening economic hardship, rising poverty, and increasing cost of living experienced by Nigerians since the subsidy was removed in May 2023.
The party argued that despite the significant revenue reportedly generated from the policy, many citizens continue to grapple with hunger, unemployment, high transportation costs, and the collapse of small businesses, while critical infrastructure deficits remain unresolved.
According to the APM, Nigeria’s infrastructure gap is estimated at about 2.3 trillion dollars, requiring approximately 100 billion dollars annually over the next three decades to bridge.
The party further alleged that more than ₦20 trillion may have accrued to the Federal Government from the subsidy removal but expressed concern over what it described as the lack of transparency in the management of the funds.
APM accused the APC-led administration of failing to provide a detailed account of the revenue generated and the projects financed with the proceeds, stressing that broad claims of investments in critical sectors are insufficient without verifiable evidence.
The party called on the Tinubu administration to immediately publish a comprehensive and independently verifiable report detailing the total amount realised from subsidy removal since May 2023, expenditures made, projects executed, their locations, beneficiaries, and the measurable impact on the lives of Nigerians.
While reaffirming its support for reforms capable of driving national development, the APM maintained that the success of any economic policy should be measured by tangible improvements in citizens’ welfare rather than official declarations.
