*President Tinubu
By Funso Alarape
Thursday June 6, 2024
Please, share this story:
The admission by the President Bola Ahmed Tinubu-led government that it has been paying subsidy on fuel despite denials on several occasions and insistence that fuel subsidy was gone forever has drawn the ire of the main opposition party, Peoples Democratic Party (PDP)
In a press statement issued today in Abuja, the PDP through its National Publicity Secretary, Debo Ologunagba said the scandalous that the Bola Ahmed Tinubu-led All Progressives Congress (APC) administration is secretly paying a whopping N5.4 trillion as fuel subsidy for 2024 has exposed the administration as a cesspit of corruption, lies, and deceit.
But the Presidency in Abuja today insisted that it has not reversed its decision on stoppage of payment of fuel subsidy.
It reiterated that the fuel subsidy regime has ended, and the government’s position on fuel subsidy has not changed since President Tinubu’s declaration on 29 May 2023.
The presidency also added that there is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed.
The Presidency said the two trending fiscal policy documents in circulation are still proposals and have not been approved by President Bola Tinubu.
Ologunagba said, “This revelation by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, shows the callousness of the APC administration, which is forcing Nigerians to buy fuel at the very exorbitant price of over N800 per liter in various parts of the country while trillions of naira are allegedly being paid as fuel subsidy into private bank accounts associated with corrupt APC leaders.
“Nigerians can recall how APC leaders, in their characteristic manner, tried to divert public attention when the PDP earlier alerted of this fraudulent act in a statement on May 28, 2024.
“This revelation by Wale Edun after a series of denials by APC leaders and government officials validates the axiom that no matter how long lies appear to thrive the truth, like the sun, will always prevail.
“Is it not provocative and an act of extreme insensitivity that while our nation is suffering from grave infrastructural decay and millions of Nigerians subjected to punishing hardship, acute poverty, life of misery and utter despondency by the removal of subsidy without cushioning measures, a staggering N5.4 trillion, in the name of fuel subsidy, is reportedly being cornered by corrupt APC leaders?
“The deceit which is prevalent in the APC government is responsible for plunging Nigerians deeper into destitution with no hope in sight under the current administration.
“Nigerians deserve to know; Where is the N5.4 trillion being taken from? Which agency of government is responsible for the payment of the said fuel subsidy, and to whom? What are the criteria used for payment?
“What volume of fuel is being subsidized and at what cost? Why is petrol still selling exorbitantly even with the revelation of the continuing payment of fuel subsidy? These are questions that need to be answered.”
The PDP further demanded that President Tinubu immediately clear the air and come clean by personally addressing Nigerians and ordering a public inquiry into the reported N5.4 trillion fuel subsidy under his watch.
The party also asked the president to immediately review his economic team to get capable hands and check the corruption prevalent in the administration.
The PDP equally said, “Mr. President must also review the economic policies of the administration that is strangulating the people. Recognizing, accepting, and reviewing a flawed economic policy is not weakness but courage. That is what defines a leader at a time like this.
“President Tinubu should listen to the heartbeat of Nigerians. There is hunger and destitution in the land. The reaction of a hungry people is better imagined! Mr. President, please act now.”
Presidency insists subsidy gone, says leaked documents unofficial
The Presidency has said two trending fiscal policy documents in circulation are still proposals and have not been approved by President Bola Tinubu.
It also reiterated that the fuel subsidy regime has ended, and the government’s position on fuel subsidy has not changed since President Tinubu’s declaration on 29 May 2023.
The presidency also added that there is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed.
Recall that reports of documents titled Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024 and Accelerated Stabilisation and Advancement Plan (ASAP) surfaced on the internet on Tuesday following the meeting between the Minister of Finance, Wale Edun and President Tinubu at the State House in Abuja.
The first policy proposal aims to reduce inflation and stabilize prices, while the second policy aims to fast-track economic recovery and provide succor to Nigerians as possible.
In a statement on Thursday, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, said the two documents are not official and still subject to reviews at the highest level of government.
The statement reads: “The attention of the Presidency has been drawn to two fiscal policy documents in circulation that are being given wide coverage by the mainstream media and social media platforms.
“One of the documents titled Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024 is being shared as if it were an executive order signed by President Bola Ahmed Tinubu.
“The other is a 65-page draft document with the title “Accelerated Stabilisation and Advancement Plan (ASAP), which contains suggestions on how to improve the Nigerian economy. President Tinubu received a copy of the draft on Tuesday.
“We urge the public and the media to disregard the two documents and cease further discussions on them. None is an approved official document of the Federal Government of Nigeria. They are all policy proposals that are still subject to review at the highest level of government. Indeed, one has a ‘draft’ clearly written on it.
“According to the Coordinating Minister of the Economy, Mr. Wale Edun, “It is important to understand that policymaking is an iterative process involving multiple drafts and discussions before any document is finalized.
“We assure the public that the official position on the documents will be made available after comprehensive reviews and approvals are completed.”
The presidential aide also asked the public and media to stop second-guessing the government’s policy on customs tariffs, fuel subsidies, and other economic matters.
Onanuga, therefore, called on the media to always confirm documents that do not emanate from official channels so that the members of the public are properly informed on government policies and programs.
The statement added: “Emanating from the two documents have been reports second-guessing government’s policy on customs tariffs, fuel subsidy and other economic matters.
“The government wants to restate that its position on fuel subsidy has not changed from what President Bola Ahmed Tinubu declared on 29 May 2023. The fuel subsidy regime has ended. There is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed,” Edun stated.
“The Coordinating Minister of the Economy further clarified: “As previously stated by government officials, including myself, President Tinubu announced the end of the fuel subsidy program last year, and this policy remains firmly in place.
“The Federal Government is committed to mitigating the effects of this removal and easing the cost of living pressures on Nigerians.
“Our strategy focuses on addressing key factors such as food inflation, which is significantly impacted by transport costs. With the implementation of our CNG initiative, which aims to displace high PMS and AGO costs, we expect to further reduce these costs.
“Our commitment to ending unproductive subsidies is steadfast, as is our dedication to supporting our most vulnerable populations”.
“We call on the media to always exercise necessary checks and restraints in the use of documents that do not emanate from official channels so that the members of the public are properly informed, guided, and educated on government policies and programs.”
We are here to serve you with quality news and information.
However, your donations, reactions, and advert placement are welcome.
Contact us on 08033783144 (WhatsApp)
08023469999
idowuadelusi@yahoo.com, idowuadelusi@gmail.com,
thepathfindernews0@gmail.com
Follow our reports also on X @idowuadelusi and Facebook (Idowu Oluwole Adelusi)