The Socio-Economic Rights and Accountability Project has urged President Bola Ahmed Tinubu to use his good offices and leadership position to “urgently publish details of spending of about N400bn so far saved as a result of the removal of subsidy on Premium Motor Spirit popularly known as petrol.”
He was urged by SERAP to “provide details of the plans on how subsequent savings from the removal of petroleum subsidy would be used, including specific projects on which the funds would be spent, and the mechanisms that have been put in place to ensure that any such savings are not embezzled, misappropriated, or diverted into private pockets.”
According to reports, the Federal Government saved N400 billion in the four weeks following the implementation of the policy on the removal of petrol subsidy payments. Read More…
In the letter dated July 1, 2023, and signed by SERAP deputy director Kolawole Oluwadare, the organisation said, “Your government has a legal responsibility to ensure that the savings from the removal of subsidy on petrol are spent solely for the benefit of the 137 million poor Nigerians who are bearing the brunt of the removal.
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“Prevention of corruption in the spending of savings from the removal of subsidy on petrol and preventing and addressing the challenges caused by the removal are serious and legitimate public interests.”
According to SERAP, “Nigerians have the right to know how the savings are spent. Publishing the details of the spending of the savings would promote transparency, accountability, and reduce the risks of corruption in the spending of the funds.”
The letter, read in part, “SERAP is concerned that the savings from subsidy removal may be embezzled, misappropriated or diverted into private pockets.” Continue Reading…
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