Clarifying confusion around subsidy policy, crude oil refining, Atiku Tinubu’s duties

Former Nigerian Vice President Atiku Abubakar has demanded clarity on the federal government’s petrol and crude oil subsidy policies following allegations of opacity in the process.

The 2023 presidential candidate of the Peoples Democratic Party (PDP) lamented the unclear governance under President Bola Ahmed Tinubu.

In a post on his official platform X on Monday, Atiku said reports of the government’s continued fuel subsidy showed “unclear” governance under President Bola Tinubu.

The former vice president said only a transparent government could provide relief to Nigerians from the “debilitating fuel scarcity situation and rising inflation affecting petroleum products”.

He wrote, “The latest revelations circulating through trusted media regarding the continuation of premium fuel subsidies by the central government are a new chapter in President Bola Tinubu’s non-transparent governance,” Atiku said.

“This development stands in stark contrast to the president’s emphatic statement in a national broadcast, delivered immediately after public protests condemning poor governance, in which he declared the subsidy regime over.

“However, disclosures prior to the announcement consistently showed a revival of subsidy payments, albeit through less transparent means.

“The gap between the president’s words and actions not only undermines the morale of his leadership but also significantly erodes the credibility of his administration.

“At a time when the country is battling severe fuel shortages and rising energy costs, the continued delay in the restart of the Port Harcourt refinery is a national disgrace — a failure for which President Tinubu, who also serves as minister of petroleum resources, is solely responsible.

READ ALSO: Atiku warns against sabotaging Dangote refinery project

“Furthermore, the continued denial by NNPC Limited has only worsened the plight of Nigerians, who are already experiencing severe hardship due to fuel shortages and the resulting price inflation.

“Amid the fierce dispute between local investors who support refinery operations and those who support imported PMS, the president’s silence is puzzling.

“It is imperative for the president, who is intrinsically responsible for overseeing and intervening in such critical disputes to protect national interests, to step forward to meet this expectation.

“Therefore, it is very important for the Tinubu administration to immediately clarify the link between the subsidy policy and the improvement of the PMS.”

Atiku continued, the alleged diversion of funds by NNPC further exacerbated the chaos in the fuel subsidy controversy.

“The veil of secrecy surrounding the downstream petroleum sector, coupled with alarming reports of NNPC Limited diverting funds meant for other purposes to cover subsidy payments, adds another layer of confusion that is deeply troubling.”

Atiku warned that if the report was accurate, it could have serious consequences for the integrity of fiscal federalism.

In a related development, the state-owned oil company has revealed that its full-year profit increased by 29% to N3.3 trillion, while revenue increased to N27.99 trillion due to increased oil production.

By: Babajide Okeowo

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