Tinubu: APC denies reintroduction of fuel subsidy amid controversy

The ruling All Progressives Congress (APC) has vehemently dismissed concerns suggesting that the administration of President Bola Tinubu may have covertly reintroduced fuel subsidy, asserting that the government’s intervention was solely aimed at ensuring a degree of price stability and predictability in the fuel market.

Recent reports indicated that the administration expended a significant sum of N169.4 billion in August to maintain the fuel pump price at N620. This revelation was swiftly seized upon by the opposition to criticize the Tinubu administration, alleging a clandestine revival of fuel subsidy. However, the APC rebuffed such claims, asserting that the financial disbursements made did not equate to a reinstatement of the subsidy.

In a statement on Monday night, APC spokesperson Felix Morka chastised Phrank Shaibu, Media Aide to the Presidential Candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, for spreading what the APC termed as “fake news” and engaging in efforts to discredit President Bola Tinubu’s administration.

Morka emphasized that the government’s intervention was geared towards ensuring stability and predictability in fuel pricing, not a return to the subsidy practices of the recent past. The APC accused Shaibu of making baseless claims and demonstrated a lack of understanding of economic matters, referring to it as “pathological and cynical flippancy.”

The statement highlighted various economic initiatives and policy decisions taken by the Tinubu-led administration, aiming to dispel allegations of deceit and emphasize the administration’s commitment to transforming and advancing the nation’s economy. Additionally, the APC asserted that the creation of new ministries and appointments of skilled professionals in key economic institutions demonstrate the government’s dedication to fostering economic growth and recovery.

Addressing diplomatic relations, the APC noted the positive development of lifting the Visa ban on Nigerians by the United Arab Emirates (UAE) authorities, underlining ongoing diplomatic engagements between Nigeria and the UAE. The statement also clarified the nature of President Tinubu’s meetings, asserting that certain reported meetings were not on his official schedule. The APC spokesperson concluded by emphasizing the government’s dedication to transparency, economic growth, and diplomatic engagement for the benefit of the nation.