APM Urges EFCC to Quiz Oyedele, Edun Over Alleged N12tn Subsidy Savings Discrepancy

The Allied Peoples’ Movement, APM, has called on the Economic and Financial Crimes Commission, EFCC, to investigate an alleged N12 trillion discrepancy in figures relating to savings from the removal of petrol subsidy.

The party specifically urged the anti-graft agency to question the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, his predecessor, Wale Edun, and relevant officials of the Ministry of Petroleum Resources.

The demand was contained in a statement issued by APM National Publicity Secretary, Abubakar Yusuf.

The party said conflicting figures released by government officials regarding subsidy savings required urgent clarification.

According to the APM, Oyedele recently put the savings from petrol subsidy removal at N15.8 trillion, while earlier figures attributed to the government under Edun indicated that about $20 billion, estimated at N27 trillion at the time, had been saved as of November 2024.

The party questioned the reason for the apparent difference of about N12 trillion between the figures.

“The APM therefore petitions the EFCC to investigate the N12 trillion discrepancy by inviting the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, his predecessors in office, Wale Edun, as well as officials of the Ministry of Petroleum Resources for questioning,” Yusuf said.

APM wants National Assembly probe

The party also called on the National Assembly to conduct an open investigation into the alleged discrepancy, insisting that Nigerians deserve a transparent account of the funds said to have been saved following the removal of petrol subsidy.

APM argued that the alleged N12 trillion difference could have significant developmental value if properly accounted for and deployed.

According to the party, the amount could finance the construction of a refinery with a capacity of between 250,000 and 300,000 barrels per day, potentially creating jobs, attracting supporting investments and helping to reduce petroleum prices.

The party also claimed that the funds could finance approximately 1,000 kilometres of standard railway infrastructure connecting Lagos, Abuja and other parts of the country.

It argued that such infrastructure would improve transportation, stimulate commerce and reduce pressure on Nigeria’s road network.

APM accused the ruling All Progressives Congress, APC, of failing to ensure that the benefits of subsidy removal were reflected in the lives of ordinary Nigerians.

“It is therefore disheartening that due to sheer greed, avarice and incurable corruption of the APC, Nigerians have been denied these life-enhancing benefits,” the party said.

The opposition party further alleged that the conflicting figures had heightened concerns about the possible diversion or mismanagement of subsidy savings by individuals linked to the administration.

APM maintained that a comprehensive investigation by the EFCC and an open legislative inquiry would help establish the actual amount saved and determine how the funds have been accounted for.