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The presidency has pushed back against accusations of deceit surrounding fuel subsidy claims, with Bayo Onanuga, Special Adviser to President Bola Tinubu, firmly maintaining that the administration has been truthful in its dealings.
Onanuga’s defense seeks to reassure Nigerians and restore confidence in the government’s commitment to transparency.
Onanuga pointed out that the government had already phased out subsidy provisions from the national budget, and notably, they were also absent from the 2023 supplementary budget. This omission, he argued, is a clear indication that the administration has been transparent about its intentions.
Onanuga took to his official X page to set the record straight, dismissing accusations that the government has failed to honor its commitment to stopping fuel subsidy payments following President Tinubu’s May 29, 2023, declaration of deregulation in the PMS sector. He insisted that these claims are unfounded and misrepresent the facts.
He said: “I have read a series of articles attacking the federal government for not telling the truth about fuel subsidy payments, following NNPC Limited’s admission that it owes suppliers some $6 billion.
“Some of the stories have been written with relish, as the authors believe they have uncovered significant scoops.
Read also: NNPCL Clarifies Controversy Surrounding Fuel Subsidy Payment
“The truth is that there is no discovery. No lie uncovered. The government has been faithful to its policy of no longer paying fuel subsidy since President Tinubu announced the deregulation of the PMS sector on May 29, 2023.
”Since then, subsidy provisions have disappeared from the budget. They were not included in the supplementary budget of 2023, the 2024 budget, or the amended 2024 budget.
“So the sensational headlines about the so-called unraveling of Tinubu government’s subsidy payment and the return of subsidies are unjustified.
“Rather, what has emerged is the commendable stance of the oil company, owned by all tiers of government, to absorb the rising costs of petrol at the pump and protect the Nigerian consumer.
”This generous stance by NNPC Limited, supported by a compassionate president unwilling to let the people suffer, has been under threat for months due to the rising cost of crude and devalued naira.
“Recently, the NNPC has indicated that it can no longer sustain the price differential on its balance sheet without risking insolvency.
”This situation has significant implications on the ability of all three tiers of government to function, as the NNPC has failed to contribute to the federation account as expected.
“There are no easy choices. Something must be done to ensure that NNPC survives and keeps the engines of government running and petrol flowing at the pumps.
Sources suggest that a transformative development and substantial alleviation could arise from the Dangote Refinery and other local refineries, which are expected to become primary suppliers to the Nigerian market, possibly changing the dynamics of the situation.
