The Presidency has dismissed allegations that President Bola Tinubu’s administration lied to Nigerians about the payment of fuel subsidies.
In a statement posted on X (formerly Twitter) on Tuesday, Bayo Onanuga, Special Adviser to the President on Information and Strategy, refuted claims that the government had been dishonest following NNPC Limited’s admission of owing suppliers approximately $6 billion.
Onanuga stated that several articles have wrongly accused the Federal Government of concealing the truth about fuel subsidy payments, suggesting that these reports were sensationalized by their authors.
“The truth is that there is no discovery, no lie uncovered. The government has remained consistent in its policy of ending fuel subsidies since President Tinubu announced the deregulation of the PMS sector on 29 May 2023. Since then, subsidy allocations have been removed from the budget—it was not included in the Supplementary Budget of 2023, the 2024 Budget, or the amended 2024 Budget,” Onanuga clarified.
He further criticized the recent media headlines suggesting the government had secretly reintroduced subsidies, calling them unfounded.
“Rather, what has come to light is the commendable stance of NNPC Limited, which has been absorbing the rising costs of petrol to shield Nigerian consumers. This approach, supported by a compassionate president who does not wish to see the people suffer, has been under pressure due to increasing crude oil prices and the depreciation of the Naira,” he added.
Onanuga explained that the NNPC’s recent outcry stems from its inability to continue shouldering the cost difference without risking insolvency.
This situation, he noted, has serious implications for the ability of the three tiers of government to function, as the NNPC has been unable to contribute to the Federation Account as expected.
He emphasized that difficult decisions must be made to ensure the survival of NNPC, maintain government operations, and keep petrol available at the pumps.
“The current scenario highlights the potential of the Dangote Refinery and other local refineries, including the government-owned Port Harcourt Refinery, which, once fully operational, could serve as the primary fuel suppliers to the local market,” Onanuga stated.
He noted that these refineries would bring significant economic benefits, including the creation of well-paying jobs along the value chain and a reduction in the demand for foreign exchange to import petroleum products.
Source: PM News
