N27trn subsidy funds: APM accuses Tinubu govt of ‘litany of lies’

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By Luminous Jannamike

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ABUJA – The Allied Peoples’ Movement, APM, has accused the Federal Government of giving Nigerians a false account of how more than N27 trillion generated from the removal of petrol subsidy was spent, describing its report as a ‘litany of lies, inconsistencies and false claims’.

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The party said the report raised fresh questions about how much was actually saved, how much was shared among the three tiers of government, and what the funds were used for.

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In a statement by its National Publicity Secretary, Abubakar Yusuf, the APM said its July 9 demand for a comprehensive account of the subsidy proceeds had prompted the Federal Government’s report.

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“The Allied Peoples’ Movement (APM) dismisses the Tinubu-led APC administration’s report on the spending of over N27 trillion realized from the removal of subsidy on petroleum products, describing it as a litany of lies, inconsistencies and false claims ostensibly to hoodwink Nigerians and divert public attention from the massive looting of the funds under the APC administration,” Yusuf said.

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The party’s main concern was the government’s claim that only N15.8 trillion was realized as subsidy-removal savings, which it said contradicted an earlier disclosure by former Finance Minister, Wale Edun.

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“For a start, the APM rejects the claim by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, that only N15.8 trillion was realized as subsidy removal saving. Perhaps he forgot that his predecessor in office, Wale Edun, told Nigerians in November 2024 that the nation had saved an estimated $20 billion (N26.9 trillion) from subsidy removal,” Yusuf said.

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The APM demanded that the Tinubu administration explain the discrepancy and provide a full account of subsequent savings.

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“The Tinubu administration must come clean on the exact amount currently saved, especially given that more savings have been garnered between November 2024 and 2026,” the party said.

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It also rejected the government’s claim that N5.4 trillion went to the Federal Government while N10.4 trillion was shared among states and local governments, demanding details of each disbursement.

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“Instead of resorting to blanket claims, we demand that the Federal Government should provide a detailed breakdown of the funds shared to each state and local government, the dates of disbursement and the specific purposes for which the money was deployed,” the APM said.

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The party further criticized the claim that N9.39 trillion from incremental resources generated through subsidy savings, independent revenue and borrowing was spent on workers’ wages and student loans, describing it as an attempt to shift public anger towards civil servants and students.

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“This comes to us as an attempt by the APC to pitch Nigerians against the innocent civil servants and students who are actually victims of the corruption of the APC.”

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The APM also dismissed the government’s claim that its reforms had benefited Nigerians, citing widespread hardship, poverty, unemployment and the country’s infrastructure deficit.

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It urged Nigerians to use the 2027 election to end what it described as APC misrule and support its presidential candidate, Engr. Seyi Makinde, for what it called a more transparent and accountable government.

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