The Allied People’s Movement has called on the Federal Government to publicly account for the funds generated from the removal of the petrol subsidy, urging the administration of President Bola Ahmed Tinubu to disclose how the proceeds have been utilised since the policy took effect in May 2023.

In a statement issued on Thursday by its National Publicity Secretary, Abubakar Yusuf, the party said Nigerians deserve a detailed and independently verifiable report showing the total amount realised from the subsidy removal, the projects financed with the funds, their locations and the outcomes achieved.

The party argued that repeated government assurances that the savings are being invested in critical sectors are insufficient without supporting figures or evidence of completed programmes.

Tinubu had, during his inauguration on May 29, 2023, announced the end of the petrol subsidy regime with the declaration that “subsidy is gone.” The decision led to a sharp increase in fuel prices, triggering higher transportation costs and widespread increases in the prices of goods and services.

According to the APM, despite the government’s position that the subsidy savings have been directed toward development initiatives and social interventions, many Nigerians continue to experience severe economic hardship, rising living costs and declining purchasing power.

The party said the worsening poverty rate, hunger, unemployment and the rising cost of doing business have raised concerns over the management of the subsidy proceeds, adding that public confidence can only be restored through full transparency.

It also expressed concern over allegations of mismanagement of the funds and maintained that no comprehensive public record has been presented showing the total revenue generated from the subsidy removal, the amounts spent or the measurable impact of those expenditures.

While stating that it supports economic reforms capable of driving national development, the APM insisted that the success of such policies should be judged by improvements in the living conditions of Nigerians rather than official claims.

The party urged the Federal Government to publish a comprehensive report detailing the total subsidy savings since May 2023, expenditure from the funds, beneficiaries of government interventions and the outcomes recorded, insisting that accountability remains essential to sustaining public trust.