Group under the auspices of The Democratic Front (TDF) has stated that the savings from the fuel subsidy removal by the current administration has translated to improved Federal Account Allocation Committee (FAAC) disbursements, sustained investment in social infrastructure, others on President Bola Tinubu’s watch.
This, was in response to the data presented by the African Democratic Congress (ADC) for its assessment of the economic reforms of the President Tinubu’s administration, saying ” it is not reflective of the reality on the ground.”
TDF, in a statement signed by its Chairman Mallam Danjuma Muhammad and Secretary, Chief Wale Adedayo, argued that the party’s position was grossly flawed.
The explained in the statement that “Aside from the fact that the ADC took the recent report by a policy group, Agora policy out of context, the opposition party failed to reflect the gloomy and vulnerable state of the Nigerian economy which necessitated the removal of fuel subsidy by the Tinubu administration in 2023.
“In case ADC leaders are feigning selective amnesia of the history of their new party, they should be reminded that Mr Dumebi Kachukwu and Ahmed Buhari, Presidential and Vice Presidential candidates respectively of ADC in the election which produced Bola Ahmed Tinubu as President in 2023, promised to discontinue what they said was the corrupt fuel subsidy regime, if voted into power.
“Their pledge to remove fuel subsidy is on record as part of ADC’s manifesto in that election, so it is unacceptable that the leaders of the party have elected to play the revisionist card on the removal of fuel subsidy knowing fully well that nearly all the political parties that contested in the election made removal of fuel subsidy a top priority during electioneering campaigns,” it added.
The group also described ADC’s demand for savings from fuel subsidy removal as mischievous and myopic in view of ongoing massive investment in social and infrastructural development both at Federal and sub-national levels.
“ADC should recall that 80% of state governments in the country could not pay the national minimum wage and workers’ salaries, while most of the states were heavily indebted to local creditors and contractors, to the detriment of the welfare and infrastructural needs of their people before the removal of subsidy from petroleum.
“We also note that the report presented by the ADC to showcase Nigeria’s poverty index was taken out of context because the party only referred to the initial pains but ignored what it said about current developments.
“In our view, ADC’s data cannot stand in the face of the current deliverables in Agriculture, Non Oil Export, Solid Minerals, Industrial Expansion in Job Creation, Health Sector Transformation, NELFUND as well as the astronomical rise in disbursements from the federation account, and the plethora of social security interventions under the Tinubu administration.
“Finally, we condemn the leaders of African Democratic Congress (ADC) for being insensitive by promoting false narratives about the removal of fuel subsidy, whereas the forefront presidential aspirants of their party like former Vice President Atiku Abubakar, Peter Obi, and Rotimi Amaechi have all opposed the fuel subsidy regime in the past, and are still advocating for a private sector driven economic model which does not encourage petroleum subsidy in the economy,” TDF added.
