APM Demands Full Disclosure of Fuel Subsidy Savings, Seeks Transparent Accounting from Federal Government ‎

APM Demands Full Disclosure of Fuel Subsidy Savings, Seeks Transparent Accounting from Federal Government
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‎By Malachi Olivia Amarachi
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‎E-ISSN: 2354-4481
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‎The Allied People's Movement (APM) has called on the Federal Government to publicly disclose a comprehensive breakdown of the revenue generated since the removal of the petrol subsidy in May 2023, insisting that Nigerians deserve a transparent account of how the funds have been managed.
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‎In a statement issued recently, the party urged the government to provide an independently verifiable report detailing the total amount realized from the subsidy removal, the agencies responsible for managing the funds, and the projects or programmes financed with the proceeds.
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‎According to the APM, transparency and accountability remain fundamental principles of good governance, particularly on matters involving public finances. The party argued that providing an itemized account of the subsidy savings would strengthen public confidence in government policies and demonstrate a commitment to responsible fiscal management.
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‎The party further noted that many Nigerians continue to grapple with the economic consequences of the subsidy removal, including rising transportation costs, inflation, and increased living expenses. It maintained that citizens have a legitimate right to know how the resources generated from the policy have been utilized to address these challenges.
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‎The APM also stressed that making the information publicly available would promote greater accountability and enable independent scrutiny by relevant institutions, civil society organizations, and the general public.
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‎The Federal Government has consistently defended the subsidy removal, describing it as a necessary economic reform aimed at reducing fiscal pressure, eliminating unsustainable subsidy payments, and redirecting public funds toward critical sectors such as infrastructure, healthcare, education, and social welfare.
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‎Since the policy took effect in May 2023, government officials have repeatedly stated that the savings have been deployed to support state governments, fund infrastructure projects, strengthen social investment programmes, and stabilize public finances. However, opposition parties, civil society groups, and several economic stakeholders have continued to demand more detailed disclosures on the actual revenue generated and its utilization.
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‎The APM's latest demand adds to the growing calls from political stakeholders and transparency advocates for greater openness in the management of public resources, as debates continue over the long-term economic impact of the fuel subsidy removal and the effectiveness of the government's reform agenda.
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‎As of the time of filing this report, the Federal Government had not issued an official response to the APM's request.

‎Several public policy analysts have argued that regular publication of detailed fiscal reports would help improve public confidence in government reforms and reduce concerns over the management of public funds.
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‎Civil society organizations have also consistently advocated stronger transparency mechanisms, urging authorities to make comprehensive revenue and expenditure reports readily accessible to Nigerians in line with principles of open governance.

‎President Bola Ahmed Tinubu announced the removal of the petrol subsidy during his inauguration on May 29, 2023, declaring that "fuel subsidy is gone." The decision marked the end of decades of government subsidy on Premium Motor Spirit (PMS) and led to a significant increase in fuel prices nationwide.
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‎While the Federal Government maintains that the policy has improved public finances and created more fiscal space for development spending, the reform has also contributed to higher inflation, increased transportation costs, and a rising cost of living, prompting sustained public debate over its implementation and benefits.