The Allied People’s Movement (APM) has accused the All Progressives Congress (APC) of misappropriating N12 trillion of the fuel subsidy money.

The party, in a statement by the National Publicity Secretary, Abubakar Yusuf, said the N15.8 trillion declared by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, as savings from subsidy removal by President Bola Tinubu, contradicts the $20 billion (about N27 trillion) announced by his predecessors in office, Wale Edun, in November 2024, as subsidy proceeds.

The party said it has petitioned the Economic and Financial Crimes Commission (EFCC) to recover the alleged N12 trillion from the APC-led Federal Government.

APM accused the ruling party of corruption, and said its officials and cronies used the alleged missing money to fund their lifestyle at the detriment of millions of suffering Nigerians.

According to the party, N12 trillion “is enough to build a new 250,000 to 300,000 bpd capacity refinery with huge positive economic impact of massive employment, ancillary investments in by-products and help push down prices in the country.”

It added that the money, which it alleged disappeared under President Tinubu’s watch could build a standard 1,000 kilometers of railway “that can connect Lagos to Abuja and other parts of the nation with positive social and economic benefits including massive jobs, eased transportation of personnel and products, boost commerce and industrialization, reduce pressure on roads, cut fuel demand and improve general living condition in the country.”

The party described as “disheartening that due to sheer greed, avarice and incurable corruption of the APC, Nigerians have been denied these life-enhancing benefits that ought to have come from the removal of subsidy on petroleum products.”

APM said that it is disturbed that millions of Nigerians are subjected to a life of misery while their common patrimony was being frittered away by corrupt individuals in government.

It is therefore calling on 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.

The party also called on the National Assembly to immediately conduct an open inquest into the missing subsidy savings, stating that it would not rest on its oars until every kobo from the subsidy savings is accounted for.

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