Atiku Abubakar, the former Vice President and 2023 presidential candidate of the Peoples Democratic Party (PDP), has raised concerns over the federal government’s alleged covert continuation of the subsidy on Premium Motor Spirit (PMS).
In a post on X (formerly Twitter) handle on Monday, Abubakar accused President Bola Tinubu of misleading the public by declaring the end of the subsidy regime, only for reports to suggest otherwise.
Abubakar’s comments come in the wake of revelations from credible media outlets indicating that the government may have continued subsidizing PMS payments through less transparent means.
He criticized the dissonance between President Tinubu’s public statements and the alleged actions of his administration, suggesting that this gap undermines the credibility and moral integrity of the current leadership.
“The latest revelations regarding the covert continuation of the subsidy on PMS starkly contrast with President Tinubu’s assertions that the subsidy regime was concluded,” Abubakar said.
“This discrepancy not only undermines the moral fabric of his leadership but also erodes the credibility of his administration.”
Abubakar also expressed frustration over the persistent fuel scarcity and rising energy costs, pointing out that the delays in the re-operation of the Port Harcourt refinery are a significant failure attributed to President Tinubu, who also serves as the Minister of Petroleum Resources.
He described the situation as a national disgrace and criticized the President for his silence amid ongoing disputes between local and international stakeholders in the petroleum sector.
Furthermore, Abubakar highlighted the troubling reports about NNPC Limited allegedly diverting funds from other purposes to cover subsidy payments. He argued that these issues contribute to the opacity and confusion surrounding the downstream petroleum sector, which exacerbates the plight of Nigerians facing severe fuel shortages and inflation.
“It is crucial for President Tinubu to clarify the entanglements surrounding the subsidy policy and the refining of PMS,” Abubakar stated.
“Transparent governance is essential for providing relief from the debilitating conditions of fuel scarcity and spiraling inflation affecting petroleum products.”
Abubakar’s comments underscore the growing demand for transparency and accountability in the management of Nigeria’s petroleum resources as the nation continues to struggle with the impacts of fuel shortages and rising costs.
The tweet read in full below:
The latest revelations circulating through credible media outlets regarding the federal government’s covert continuation of the subsidy on Premium Motor Spirit (PMS) represent another chapter in the opaque governance under President Bola Tinubu’s administration. This development starkly contrasts with the President’s firm assertions in a national broadcast, which followed closely on the heels of public protests decrying poor governance, where he declared the subsidy regime concluded. However, disclosures prior to his announcement have consistently indicated a resurgence of subsidy payments, albeit through less transparent means.
This dissonance between the President’s words and his actions not only undermines the moral fabric of his leadership but also significantly erodes the credibility of his administration. At a time when the nation grapples with severe fuel scarcity and escalating energy costs, the continued delays in the re-operation of the Port Harcourt refinery stand as a national disgrace — a failure that rests firmly on the shoulders of President Tinubu, who also holds the office of the Minister of Petroleum Resources.
Moreover, the persistent denials by NNPC Limited only exacerbate the plight of Nigerians, who endure severe difficulties due to fuel shortages and resultant price inflations. Amidst a contentious dispute between local investors favouring refinery operations and those advocating for imported PMS, the President’s silence is profoundly disconcerting.
It is paramount that the President, who is intrinsically responsible for overseeing and intervening in such critical disputes to safeguard national interests, steps up to fulfil these expectations. The veil of secrecy shrouding the downstream petroleum sector, coupled with alarming reports of NNPC Limited diverting funds intended for other purposes to cover subsidy payments, adds layers of confusion that are unbearably unsettling.
If these reports hold true, they portend grave implications for the integrity of our fiscal federalism. It is imperative, therefore, that the Tinubu administration urgently clarifies the entanglements surrounding the subsidy policy and the refining of PMS. Only through transparent governance can Nigerians hope to find relief from the current debilitating conditions of fuel scarcity and the spiralling inflation affecting petroleum products. -AA