ABUJA — A fresh controversy over Nigeria’s fuel subsidy removal has erupted, with Phrank Shaibu, spokesman for former Vice President Atiku Abubakar, demanding answers over what he described as the whereabouts of the financial gains from the policy.
Shaibu questioned how the huge revenues reportedly accruing to the three tiers of government since the subsidy regime was dismantled have been utilised, arguing that Nigerians deserve a clear account of the funds.
According to him, Atiku’s team examined figures from the Federation Account Allocation Committee (FAAC) covering the period from 2024 to July 2026.
Shaibu claimed that the analysis showed deductions and transfer charges amounting to more than ₦30 trillion, raising fresh questions about the movement and deployment of public funds during the period.
The Atiku camp’s position comes amid continuing debate over the economic consequences of subsidy removal, particularly its impact on government revenue, inflation, transportation costs and household purchasing power.
Shaibu’s central question was blunt: Where have the gains from fuel subsidy removal gone?
He argued that while government has repeatedly pointed to increased revenues as one of the major benefits of ending the subsidy regime, Nigerians are still struggling with high living costs and worsening economic pressures.
The former vice president’s spokesman suggested that the government should provide a detailed breakdown of the funds received through FAAC, deductions made, transfer-related charges and the projects or programmes financed with the additional revenue.
The controversy adds another layer to the growing political battle over President Bola Ahmed Tinubu’s economic policies, with the opposition increasingly challenging the administration to demonstrate how increased government revenues have translated into tangible improvements in the lives of ordinary Nigerians.
For Shaibu and the Atiku camp, the issue is no longer simply about whether subsidy removal increased government revenue, but whether Nigerians can identify the benefits of that increase.
The question now hanging over the subsidy debate is simple: If trillions of naira have been unlocked, where exactly are the gains?
Source:@ARISEtv
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