The Presidency has debunked claims doing the rounds that it is making provisions to pay the sum of N5.4trn for fuel subsidy in 2024.
The Peoples Democratic Party (PDP) candidate in the 2023 presidential election, Abubakar Atiku, had on Wednesday challenged President Tinubu to stop what he claims is a deceit of Nigerians about his administration’s true position on petrol subsidy.
He said contrary to Tinubu’s public posturing about petrol subsidy removal, the administration had been secretly paying trillions of naira for petrol subsidy. According to him, subsidy payment under Tinubu’s watch is likely to hit N5.4trn this year.
However, a statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Thursday, reiterated that the era of fuel subsidy had ended.
“The government wants to restate that its position on fuel subsidy has not changed from what President Bola Ahmed Tinubu declared on 29 May 2023. The fuel subsidy regime has ended. There is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed,” the statement read in part.
The Presidency restated the declaration by the Coordinating Minister of the Economy, Wale Edun, when he said:
“As previously stated by government officials, including myself, President Tinubu announced the end of the fuel subsidy program last year, and this policy remains firmly in place”.
It said the Federal Government is committed to mitigating the effects of the removal and easing the cost of living pressures on Nigerians.
“Our strategy focuses on addressing key factors such as food inflation, which is significantly impacted by transport costs. With the implementation of our CNG initiative, which aims to displace high PMS and AGO costs, we expect to further reduce these costs.
“Our commitment to ending unproductive subsidies is steadfast, as is our dedication to supporting our most vulnerable populations,” Onanuga said.
