The Socio-Economic Rights and Accountability Project (SERAP), a non-governmental organisation, has called on all 36 state governors and the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to provide a detailed account of the estimated N14 trillion in fuel subsidy savings received since 2023.
In a statement issued on Sunday and signed by its Deputy Director, Kolawole Oluwadare, SERAP said, “We’ve urged Nigeria’s 36 state governors and the Minister of the Federal Capital Territory, Mr Nyesom Wike to urgently disclose the spending details of the estimated N14trn fuel subsidy savings they collected from the Federation Account Allocation Committee (FAAC) allocations, including details and locations of projects executed with the money, and the implementation status and completion reports, if any, on the projects.”
The organisation noted that “the 36 governors and the FCT minister have reportedly collected trillions of naira from FAAC allocations as fuel subsidy savings since mid-2023. But the increased allocations have not translated into improved access to basic public services, such as quality healthcare and education for poor and vulnerable Nigerians.”
SERAP stressed that there is a strong public interest in the need for the governors and the FCT minister to explain how the subsidy savings have been utilised.
The group further emphasised that the funds saved from the removal of fuel subsidy should be used exclusively to improve the welfare of poor and vulnerable citizens, who continue to bear the greatest impact of the policy.
“Transparency in the spending of the money would help to avoid a morally repugnant result of double jeopardy on these Nigerians,” SERAP added.