…Says Missing Fund Enough to Build New Refinery, Railway
Following the shocking disappearance of a whooping N12 trillion from the proceeds realized from the removal of subsidy on petroleum, the Allied Peoples’ Movement (APM) has petitioned the Economic and Financial Crimes Commission (EFCC) to launch an investigation into the matter.
Our demand is predicated on the claim by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, that only N15.8 trillion was realized as subsidy removal saving, while existing government data as announced by his predecessors in office, Wale Edun shows that an estimated $20 billion, (N27 trillion) had been saved as at November 2024.
The missing N12 trillion further vindicates allegations in the public space that bulk of the subsidy savings have been stolen by corrupt officials and cronies of the Tinubu-led All Progressives Congress (APC) administration to fund their wasteful lifestyle at the detriment of millions of suffering Nigerians.
This N12 trillion allegedly stolen by APC leaders is enough to build a new 250,000 to 300,000 bpd capacity refinery with huge positive economic impact of massive employment, ancillary investments in bye-products and help push down prices in the country.
Also, the N12 trillion that has disappeared into the thin under Tinubu’s watch is also enough to build a standard 1000 kilometers of railway that can connect Lagos to Abuja and other parts of the nation with positive social and economic benefits including massive jobs, eased transportation of personnel and products, boost commerce and industrialization, reduce pressure on roads, cut demand on fuel and improve general living condition in the country.
It is therefore disheartening that due to sheer greed, avarice and incurable corruption of the APC, Nigerians have been denied these life-enhancing benefits that ought to have come from the removal of subsidy on petroleum product.
Our party is disturbed that millions of Nigerians are subjected to a life of misery while their common patrimony is being frittered by corrupt individuals in government.
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.
The APM also calls on the National Assembly to be on the side of the people and immediately conduct an open inquest into the missing subsidy savings.
The APM assures that it will not rest on its oars until every kobo from the subsidy savings is accounted for.
Our Party urges Nigerians to remain strong and united as they rally behind our Presidential candidate, Engr Seyi Makinde in the collective quest to rid our nation of corruption, end inefficiency and reset Nigeria to the path of productivity, transparency and economic prosperity.
Signed:
Abubakar Yusuf
National Publicity Secretary
