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 subsidy savings. The petition came after the government disclosed N15.8 trillion in savings from subsidy removal.
APM claimed that about N12 trillion remained unaccounted for. The party said the amount could fund major infrastructure projects, including a new refinery and 1,000 kilometres of railway.
APM Rejects N15.8tr Savings Figure
The party rejected the N15.8 trillion figure. It compared it with an earlier government estimate of about $20 billion. APM said the earlier figure was valued at N26.9 trillion at the time. It argued that the difference raised questions about the actual amount saved. The party’s National Publicity Secretary, Abubakar Yusuf, also questioned how the government spent the subsidy savings.
Party Demands Details of Payments
APM wants the government to provide a full breakdown of the funds. The party wants details of payments to states and local governments. It also wants the dates of the payments and the projects funded with the money. APM further asked the government to disclose the amount still available from the subsidy savings. The party said more savings may have accrued since November 2024. It wants the government to include those funds in its account.
APM Questions Use of N9.39tr
The party also questioned the government’s use of N9.39 trillion. The government said it used the money to pay workers’ salaries and fund student loans. The funds came from subsidy savings, independent revenue and borrowing. However, APM said the explanation did not answer wider questions about the funds. The party called for a detailed account of how the money was generated and spent.
Party Links Funds to Infrastructure
APM said the alleged gap could have helped address Nigeria’s infrastructure needs. It argued that N12 trillion could fund a new petroleum refinery. The party also said the amount could finance about 1,000 kilometres of railway. APM further criticised the government’s claim that its economic reforms had improved living conditions.
It cited poverty, unemployment, hardship and infrastructure deficits as major concerns.
APM Calls for EFCC, NASS Probe
APM has asked the EFCC and National Assembly to examine the figures independently. The party wants both institutions to establish the actual amount saved from subsidy removal. It also called for the release of relevant financial records. APM said Nigerians deserve a clear account of how the money was generated, shared and spent.
The party maintained that subsidy savings are public funds. It therefore urged the government to account for the money and provide greater transparency.
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