The Allied Peoples’ Movement (APM) has petitioned the Economic and Financial Crimes Commission (EFCC) and the National Assembly over alleged discrepancies in the Federal Government’s account of savings from the removal of petrol subsidy.
The party claimed that about ₦12 trillion in subsidy savings had not been properly accounted for and called for an investigation into how the funds were generated and spent.
The demand followed the Federal Government’s disclosure that ₦15.8 trillion had been realised as savings from subsidy removal. The APM said the figure differed significantly from an earlier government estimate of about $20 billion, which was valued at approximately ₦26.9 trillion at the time.
In a statement by its National Publicity Secretary, Abubakar Yusuf, the party said the difference raised questions about the actual amount saved and how the proceeds were distributed and utilised.
The APM urged the EFCC and National Assembly to establish the exact amount saved and provide details of how the funds were shared among the federal, state and local governments.
The party also demanded a breakdown showing the amounts received by individual states and local governments, dates of disbursement and the projects or programmes the funds were used to finance.
The APM questioned the government’s claim that ₦5.4 trillion of the reported ₦15.8 trillion went to the Federal Government, while ₦10.4 trillion was shared among states and local governments.
It also challenged the explanation that ₦9.39 trillion from additional resources generated through subsidy savings, independent revenue and borrowing was used to pay workers’ salaries and fund student loans.
According to the party, the disputed amount could have been used to finance major infrastructure projects, including a new refinery and about 1,000 kilometres of railway.
The APM said the government must make relevant financial records available to Nigerians and account for the subsidy savings, stressing that the funds were public resources.
It called on the EFCC and National Assembly to independently scrutinise the figures and determine whether any public funds had been mismanaged or misappropriated.
The party maintained that the issue should not be treated merely as a political disagreement, arguing that Nigerians deserved transparency on how funds generated from the removal of fuel subsidy had been managed.
