Former Nigerian Vice President Atiku Abubakar has accused President Bola Tinubu of misrepresenting the facts about Nigeria’s fuel subsidy removal during his visits to New York, Qatar, and France.
In a statement released on Sunday, Atiku claimed that Tinubu falsely informed foreign entities, including the Financial Markets Dealers Quotation (FMDQ) in New York, about eliminating petrol subsidies.
Atiku, the 2023 presidential candidate of the Peoples Democratic Party (PDP), said these misleading claims could negatively impact Nigeria’s ability to attract Foreign Direct Investment (FDI). According to a statement signed by his Special Assistant on Public Communication, Phrank Shaibu, Atiku expressed concerns that despite Tinubu’s assertions, fuel shortages persist across Nigeria.
He further criticized the Tinubu administration for what he described as a fraudulent subsidy policy. Atiku referenced recent financial reports from the Nigerian National Petroleum Company Limited (NNPCL), which revealed that the government owes the NNPC N7.8 trillion in subsidy payments. This, he noted, contradicts Tinubu’s claim of subsidy removal.
Atiku added that the International Monetary Fund (IMF) estimates this year’s subsidy payments to be around 3% of Nigeria’s GDP, amounting to $7.5 billion (N11.8 trillion). He warned that this inflated subsidy system could serve as a channel for diverting funds to influence the 2027 elections, while the fuel crisis remains unresolved and critical projects, such as the Dangote Refinery, face undue setbacks.
