Former Vice President Atiku Abubakar challenged President Bola Tinubu on Monday to be brave and confess the return of fuel subsidies, months after he declared them to be gone.
Atiku, who lost to Tinubu in the 2023 presidential election, asserted that gasoline subsidies had returned, claiming that it “has become an even wider conduit pipe through which money for funding the 2027 election will come from.”
This was claimed by the former Vice President in a statement issued on Sunday by his media aide, Phrank Shaibu.
“Tinubu visited the FMDQ in New York, Qatar, and France, where he told lies about removing petrol subsidies. This is not a man who is serious about attracting FDI.
“More worrisome is that he is not even brave enough to admit that subsidy is being paid. The NNPCL admits that N7.8tn is owed to the national oil company by the Nigerian government.
“IMF estimates that subsidy payments this year will constitute three percent of GDP, which is about $7.5bn. This will be about N11.8tn. Yet, the petrol scarcity continues to linger while the Tinubu administration continues to frustrate the Dangote refinery and even its own NNPCL facilities.
“Obviously, the subsidy regime has become an even wider conduit pipe through which monies for funding the 2027 election will come from,” Atiku said.
Atiku also asked the Federal Government to explain how Oando Plc, owned by President Tinubu’s nephew Wale Tinubu, was granted fast approval to acquire AGIP and ENI’s onshore assets.
On Thursday, Oando PLC stated that it has successfully completed the acquisition of 100% of the shares in Nigerian Agip Oil Company Limited.
In a statement released on Thursday, the company stated, “Today marks a significant milestone for Oando Plc as we proudly announce the finalisation of our agreement with Eni to acquire the entire shareholding of Nigerian Agip Oil Company Limited (NAOC Ltd).”
In a rebuttal made on Sunday, Atiku argued that Oando received unfair and privileged treatment in the oil and gas sector, which affected more qualified investors.
“Former Vice President of Nigeria, Atiku Abubakar, has asked the Federal Government to explain why Oando Plc, owned by the President’s nephew, got an accelerated approval to buy the onshore assets of AGIP and ENI, while other transactions such as the Shell/Renaissance deal and the Mobil/Seplat continue to suffer delays,” he said.
Atiku also chastised the House of Representatives for failing to act appropriately on the NNPCL, which is purportedly attempting to “mortgage the country’s national oil assets to vested interests.”
Atiku said, “Within just eight months, the Nigerian Upstream Production Regulatory Commission approved a deal that saw the divestment of ENI/AGIP onshore assets to Oando.
“Within that same period, Nigeria controversially withdrew all litigation against Shell/ENI in the OPL 245 scandal in what has been described as a quid pro quo.
“However, the attempt by Seplat to buy Mobil’s onshore assets has continued to stall for the last three years, even as the consent letter remains on Tinubu’s table. The deal between Renaissance and Shell continues to stall.
“In fact, the only deal that has fully scaled through so far is the one involving Oando. We now know why it got accelerated approval.
“Ideally, democracy ought to be the government of the people, for the people, and by the people. But democracy in Nigeria has become the government of Tinubu, by Tinubu, and for Tinubu and his family members.”
Atiku noted that in July 2023, the House of Representatives, following a motion by Miriam Onuoha, instructed the NNPC Ltd. to halt the acquisition of OVH assets until its committee completed an investigation.
According to Atiku, the committee requested detailed information from NNPC Ltd., including registration documents, board resolutions, audited financial statements, management accounts, and evidence of tax payments.
Atiku alleged that despite these requests, the oil company ignored them and proceeded with transferring ownership and properties in its retail arm to OVH, thus compromising the future of Nigerians.
“Despite the rot in the oil sector, the head of the NNPC, the head of the NUPRC, and the head of the NMDPRA continue to keep their jobs. This is clear evidence that they are fulfilling the mandate given to them by Tinubu.
“Despite the rot in the oil sector, the head of the NNPC, the head of the NUPRC, and the head of the NMDPRA continue to keep their jobs. This is clear evidence that they are fulfilling the mandate given to them by Tinubu.
“Furthermore, Atiku pointed out that the NNPC lied in its vacuous response to their statement last week, as it is on record that the Kyari-led management appointed Huub Stoksman, a former Chief Executive Officer of OVH Energy, as Managing Director of NNPC Retail, and Mumuni Dangazau, the former Chief Operating Officer of OVH Energy, as his Special Adviser Downstream, long before the consummation of the incestuous marriage of the entities.”
Atiku also attacked the Tinubu administration for allegedly increasing human rights violations.
He accused the President of betraying his claims to be a freedom fighter by allowing the Department of State Service, police, and military to violate individuals’ rights without accountability.
The former Vice President further claimed that Tinubu’s officials had utilised the Cyber Crime Prevention Act 2015 to arrest citizens, with the Nigeria Police Force National Cybercrime Centre effectively replacing the dissolved Special Anti-Robbery Squad.
Atiku added, “The dangerous trend of enforced disappearances has become a national embarrassment for a country that claims to be practicing democracy.
“On May 1, 2024, Daniel Ojukwu of the Foundation for Investigative Journalism went missing and was presumed abducted by kidnappers until he was later discovered to be in police custody on the orders of IGP Kayode Egbetokun. Ojukwu’s crime was that he exposed the corruption of a government official who currently serves in Tinubu’s administration.
“On July 23, the DSS arrested one Aliyu Sanusi in Sama Road of Sokoto, the state capital, for printing and distributing materials ahead of the #EndBadGovernanceProtest.
“Even the arrest and release of the former BBC Pidgin Editor and current West Africa Regional Editor of the Conversation, Adejuwon Soyinka, clearly show a pattern, whose objective is to intimidate journalists for speaking truth to this government.
“Now, the police have arrested Bristol Tamunobiefiri, who owns the PIDOM Nigeria blog on X, formerly Twitter. After detaining him for over two weeks, he was granted an administrative bail, which would be impossible to meet.
“This is despite the fact that the Appeal Court, in the case of EFCC v. Emem Uboh (2022) LPEIR 57968 (CA), held that administrative bail is illegal. Bristol should, therefore, be arraigned in court immediately or released.”
