APM Demands Tinubu Government Publish Full Account of Fuel Subsidy Savings Since 2023

The Allied People’s Movement (APM) has challenged the Federal Government to publicly disclose a comprehensive and independently verifiable record of all revenues generated from the removal of fuel subsidy, insisting Nigerians deserve to know how the funds have been spent.

The opposition party said the demand has become necessary as millions of Nigerians continue to grapple with soaring living costs, worsening poverty and deteriorating public infrastructure despite what it described as over ₦20 trillion realised since President Bola Ahmed Tinubu announced the end of the fuel subsidy in May 2023.

In a statement issued on Thursday by its National Publicity Secretary, Abubakar Yusuf, the APM argued that the economic reforms have imposed severe hardship on citizens without corresponding evidence of improvements in public services or infrastructure.

The party noted that the President’s declaration that “subsidy is gone” triggered an immediate increase in petrol prices from below ₦200 per litre to over ₦1,500 per litre, setting off sharp increases in transportation costs, food prices, school fees, medical expenses, electricity tariffs, house rents and other essential goods and services.

According to the APM, Nigerians have continued to bear the burden of these reforms while government officials have failed to provide a transparent breakdown of how the proceeds from subsidy removal have been utilised.

The party also alleged that reports of corruption and diversion of public funds have further weakened public confidence, accusing the government of making broad claims about investments without presenting verifiable figures or measurable results.

“Under the APC administration, hunger has become a national emergency. Millions of families are going without daily meals. Small businesses are collapsing under rising operating costs. The purchasing power of workers has been abysmally degraded, while poverty and unemployment continue to rise at alarming rates,” the statement said.

The APM further expressed concern over Nigeria’s widening infrastructure gap, citing estimates that the country’s infrastructure deficit has reached $2.3 trillion, with experts projecting that about $100 billion annually would be required over the next three decades to close the gap.

It argued that despite the financial gains recorded from subsidy removal, there is little public evidence showing that the funds have translated into meaningful improvements in roads, healthcare, education, electricity or other critical sectors.

Describing official explanations as inadequate, the party insisted that vague assurances about investments cannot replace transparent public accountability.

“The vague claims by the APC government that the proceeds are being invested in critical sectors without real figures and specific projects are completely unacceptable. The true measure of any economic reform is not the volume of official pronouncements but its tangible impact on the lives of the people.”

The APM therefore urged the Tinubu administration to immediately publish a detailed report showing the total amount realised from fuel subsidy removal, how the funds have been allocated, the beneficiaries of every intervention and the measurable outcomes achieved since the policy took effect.