APM Alleges Tinubu Is Paying Fuel Subsidy Through Back Door
The Allied People’s Movement (APM) has accused President Bola Tinubu’s government of paying fuel subsidy through the back door, following the recent reduction in petrol prices.
The party questioned how the government could maintain that fuel subsidy had been removed while petrol prices had recently dropped.
APM National Secretary, Ayodele Adebayo, made the remarks while responding to questions from Vanguard.
He also faulted Finance Minister Taiwo Oyedele’s warning that bringing back fuel subsidy could push the naira to ₦4,000 against the dollar.
“What are they doing now with the current reduction in petrol price for one month? Is it not returning subsidy through the back door?” Adebayo asked.
He rejected Oyedele’s projection, arguing that the naira had previously exchanged at a stronger rate. He accused the government of using the warning to defend its position on fuel subsidy.
Adebayo also challenged the finance minister’s claim that investors had lost confidence in opposition parties, questioning the type of investors the government was attracting.
“Where are even the investors that the Minister of Finance, Taiwo Oyedele, is talking about? Is it the recycled ones by the present administration?” he asked.
The APM secretary further blamed the government’s economic policies for forcing some businesses to shut down, arguing that the policies had increased the pressure on companies and ordinary Nigerians.
Adebayo said his party supported a proper pricing system for petroleum products that would reduce the burden on Nigerians.
“We cannot subscribe to seeing Nigerians use all their entitlements and earnings to buy fuel due to harsh economic policies,” he said.
