The Allied Peoples’ Movement (APM) has petitioned the Economic and Financial Crimes Commission (EFCC) to investigate an alleged N12 trillion discrepancy in funds reportedly saved following the removal of petrol subsidy.
The party also called for the questioning of key government officials, including the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, his predecessor, Wale Edun, and officials of the Ministry of Petroleum Resources.
In a statement issued by its National Publicity Secretary, Abubakar Yusuf, the APM questioned the difference between figures attributed to Oyedele and earlier government estimates under Edun.
The party said Oyedele had put the total savings from subsidy removal at N15.8 trillion, while earlier figures reportedly indicated that about $20 billion, equivalent to roughly N27 trillion, had been saved as of November 2024.
“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 further urged the National Assembly to conduct an open investigation into the alleged discrepancy, insisting that Nigerians deserve a clear account of the funds generated from the removal of the subsidy.
According to the APM, the disputed N12 trillion could have been used to finance major infrastructure projects, including the construction of a 250,000 to 300,000 barrels-per-day refinery, which it said could create jobs, attract ancillary investments and help reduce petrol prices.
The party also argued that the funds could finance about 1,000 kilometres of standard railway infrastructure connecting Lagos, Abuja and other parts of the country, thereby improving transportation, boosting commerce and reducing pressure on the roads.
The APM accused the administration of failing to adequately account for the subsidy savings and said the alleged discrepancy had heightened concerns over possible diversion of the funds.
The party vowed to continue its demand for accountability until every naira generated from the subsidy removal is fully accounted for.
Comments