Atiku knocks Tinubu’s administration over fuel subsidy continuation

Atiku was reacting to allegations that the President had instructed the Nigerian National Petroleum Company Limited (NNPCL) to use the nation’s dividends to fund petrol subsidies.

These reports also suggested that NNPCL would halt the payment of interim dividends from May to December this year to cover the cost of the subsidies.

In a statement posted yesterday on his verified X account, Atiku condemned the alleged actions as “covert,” “secretive,” and with “grave” consequences for Nigeria’s federal integrity.

Atiku expressed concern over the stark contrast between President Tinubu’s public declaration that the subsidy regime had ended and these recent reports.

He emphasized that such actions erode the credibility of the administration, particularly during a period of severe fuel shortages and rising energy costs.

He also criticized the ongoing delay in restarting the Port Harcourt refinery, calling it a national disgrace, and attributed the responsibility for this failure directly to President Tinubu, who also serves as the Minister of Petroleum Resources.

Atiku further criticized NNPC Limited’s repeated denials of subsidy payments, arguing that this worsens the hardships faced by Nigerians due to fuel shortages and price hikes.

He expressed deep concern over the President’s silence on the ongoing dispute between local refinery operators and those supporting the importation of PMS, emphasizing the need for decisive leadership.

He warned that if the reports of NNPC Limited diverting funds to cover subsidies are accurate, they pose serious threats to Nigeria’s fiscal federalism. Atiku called for urgent clarification from the Tinubu administration on the subsidy policy and the status of PMS refining, stressing that only transparent governance can alleviate the current fuel scarcity and inflation crises.

This criticism comes amidst widespread fuel shortages across the country. Meanwhile, the President of the Petroleum Products Retail Outlets Owners Association (PETROAN), Billy Gillis-Harry, attributed the scarcity to ongoing logistics challenges. He explained that oil marketers are struggling to distribute fuel due to supply constraints, and the situation is exacerbated by difficulties in ship-to-ship transfers, which delay deliveries to depots.

Despite assurances from PETROAN and NNPCL that they are working to resolve these challenges, fuel shortages have persisted, particularly in northern Nigeria and Lagos State, leading to skyrocketing prices and increased transportation costs. Some filling stations have even ceased operations, allowing black market sellers to exploit the situation.

Last week, reports linked the fuel scarcity to debts owed by NNPCL to international oil traders, but NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, dismissed these claims, acknowledging that while debts are normal in the oil trading business and that the company is managing its obligations effectively.