ADC questions use of N6.4tn subsidy savings under Tinubu’s administration

The African Democratic Congress (ADC) has questioned how the reported N6.4 trillion savings from the removal of the fuel subsidy are being utilised under President Bola Tinubu’s administration.

The party’s national publicity secretary, Bolaji Abdullahi, made the claim in a statement on Sunday while responding to criticism from the All Progressives Congress (APC), which accused the ADC of inciting Nigerians over comments on the government’s economic reforms.

According to the statement, the opposition party was highlighting publicly available data on the country’s economic situation, noting that reports indicate Nigeria’s poverty rate has risen to 63 per cent from about 50 per cent before the petrol subsidy was removed.

The statement added that independent surveys show that many Nigerians believe the country is heading in the wrong direction, with 93 per cent expressing that view, while 88 per cent describe the national economy as “bad” and 74 per cent say their personal living conditions are “poor.”

“These are not opposition talking points. They are the views of Nigerians themselves, APC members included,” the statement read.

According to the statement, surveys indicate that many Nigerians have gone without essential needs in the past year, with 82 per cent reporting a lack of enough food at least once, while others went without medical care, cooking fuel, clean water, and cash income at different times.

The statement further claimed that the price of petrol has increased from about N255 per litre to around N1,500 in many parts of the country, contributing to higher transportation costs and rising food prices.

It also raised concerns about the agricultural sector, noting that nearly 90 rice mills have reportedly shut down while Nigeria’s food import bill rose from N3.83 trillion in 2023 to N7.65 trillion, according to the statement.