Presidency replies Atiku, says increased FAAC allocation most visible impact of petrol subsidy removal
The Nigerian presidency has defended the removal of the petrol subsidy, stating that the resulting increase in FAAC allocations has allowed states to improve infrastructure and salaries. This response follows criticism from former Vice-President Atiku Abubakar regarding the transparency of subsidy savings.
Why it matters
The debate over fuel subsidy removal is central to Nigeria's current economic policy and the ongoing political tension between the current administration and opposition figures.
The presidency says the most visible impact of the petrol subsidy removal is the increased allocation for states and local government areas (LGAs) in the country .
In a statement on Sunday, Bayo Onanuga, special adviser on information & strategy to President Bola Tinubu, responded to the recent comment of former Vice-President Atiku Abubakar on the petrol subsidy removal policy.
Atiku said Nigerians deserve explanation on the petrol subsidy savings, adding that it is false to say the savings are being used to fund workers’ welfare.
His statement followed the comment by Taiwo Oyedele, minister of finance and coordinating minister of the economy, that the federal government will soon publish a detailed account of how savings from the removal of petrol subsidy has been utilised.
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