ADC questions subsidy savings, says petrol price up nearly 500% under Tinubu

The African Democratic Congress (ADC) says petrol prices have increased by nearly 500 percent since President Bola Tinubu assumed office.

Bolaji Abdullahi, national publicity secretary of the party, made the claim while responding to criticism from the All Progressives Congress (APC) in a statement on Sunday.

The ruling party had accused the ADC of inciting Nigerians through its comments on the economic reforms introduced by the Tinubu administration.

Abdullahi said the opposition party was highlighting publicly available data on the economic situation in the country.

He said reports indicate that Nigeria’s poverty rate has risen to 63 percent from about 50 percent before the removal of the petrol subsidy, adding that the figures reflect the human cost of the administration’s economic policies.

He said independent surveys show that many Nigerians believe the country is moving in the wrong direction.

 “The independent report that triggered this debate shows that Nigeria’s poverty rate has risen to 63 percent, up from about 50 percent before the removal of petrol subsidy,” he said.

Abdullahi alleged that millions of Nigerians have been pushed into poverty since the reforms were introduced.

He said surveys indicate that 93 percent of Nigerians believe the country is heading in the wrong direction.

Abdullahi said 88 percent of Nigerians describe the national economy as “bad”, while 74 percent say their personal living conditions are “poor”.

“These are not opposition talking points. They are the views of Nigerians themselves, APC members included,” he said.

Abdullahi said the APC’s claim that the hardship experienced by Nigerians is temporary does not align with available data.

He said surveys show that many Nigerians have gone without essential needs over the past year.

“Recent surveys show that 82 percent of Nigerians report going without enough food at least once in the past year,” he said.

“Eighty-two percent have gone without medical care. Seventy-nine percent have gone without cooking fuel. Seventy-four percent have gone without clean water.

“Ninety-five percent have gone without a cash income at some point during the year.”

Abdullahi said petrol prices have risen sharply since Tinubu took office in May 2023.

He claimed that the price of petrol increased from about N255 per litre to around N1,500 per litre in many parts of the country.

Abdullahi said the increase has pushed up transportation costs and food prices.

He questioned how the reported N6.4 trillion savings from the removal of fuel subsidy are being utilised.

“Nigerians are therefore left to ask a simple question: if the subsidy savings are truly being redirected to critical sectors, where exactly is all the money going?” Abdullahi asked.

“Why are local contractors not paid? Why are the universities still poorly equipped?”

Abdullahi also raised concerns over developments in the agricultural sector, noting that reports indicate that nearly 90 rice mills in Nigeria have shut down.

Abdullahi added that many others are operating below capacity.

He said data from the National Bureau of Statistics show that Nigeria’s food import bill has increased significantly.

Abdullahi said the food import bill rose from N3.83 trillion in 2023 to N7.65 trillion. Noting that economic reforms should be judged by their impact on citizens.

“When poverty rises from 50 percent to 63 percent, when nine out of ten Nigerians say the country is on the wrong path, and when millions struggle to afford basic necessities, it is clear that something is fundamentally wrong,” he said.

Abdullahi said Nigerians expect policies that improve their living conditions, adding that the gap between official claims and the realities faced by citizens will widen if the gover