The Allied Peoples Movement has called on the Economic and Financial Crimes Commission to investigate an alleged N12 trillion discrepancy in figures reported by government officials on savings from the removal of fuel subsidy.
The party said the conflicting figures raised serious questions about the actual amount saved since the subsidy was removed.
The demand was contained in a statement issued by the APM National Publicity Secretary, Abubakar Yusuf, who urged relevant authorities to provide a clear account of the funds.
According to the party, Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, recently put the subsidy savings at N15.8 trillion. However, it noted that earlier government figures under his predecessor, Wale Edun, indicated that about $20 billion, equivalent to approximately N27 trillion, had been saved as of November 2024.
The APM said the difference between the two figures amounted to roughly N12 trillion and should be properly accounted for.
“The APM therefore petitions the EFCC to investigate the N12 trillion discrepancy by inviting the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, his predecessors in office, Wale Edun, as well as officials of the Ministry of Petroleum Resources for questioning,” Yusuf said.
The party also called on the National Assembly to conduct an open inquiry into the matter, arguing that Nigerians deserve transparency over the management of funds saved from the subsidy regime.
The APM said the alleged N12 trillion difference could have been used to finance major infrastructure projects with significant economic and social benefits.
According to the party, the amount could be sufficient to support the construction of a refinery with a capacity of between 250,000 and 300,000 barrels per day. It argued that such an investment could create jobs, attract related businesses and potentially help reduce petroleum prices.
The party further claimed that the funds could finance about 1,000 kilometres of standard railway connecting Lagos, Abuja and other parts of the country, helping to improve transportation, boost commerce and reduce pressure on the nation’s roads.
The APM accused the ruling All Progressives Congress of failing to ensure that Nigerians benefit from the savings generated by the subsidy removal.
The party said the alleged discrepancy had further heightened concerns about the possible diversion of subsidy savings by corrupt officials and individuals linked to the administration of President Bola Tinubu.
The APM vowed to continue pressing for accountability until the government provides a satisfactory explanation and every naira from the subsidy savings is properly accounted for.
