The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Ahmed Tinubu publish details of spending of about N400bn saved from the removal of subsidy.
The group said it made the call to further promote Accountability and Transparency in Governance.
Recalled that President Tinubu has declared the removal of fuel subsidy during his inaugural address last two months ago.
SERAP said, “provide details of the plans on how subsequent savings from the removal of subsidy on petrol, including specific projects on which the funds would be spent, and the mechanisms that have been put in place to ensure that any such savings are not embezzled, misappropriated or diverted into private pockets.”
According to reports, the Federal Government has saved N400bn within the four weeks following the implementation of the policy on the removal of payment of subsidy on petrol.
In the letter dated 1 July 2023 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “Your government has a legal responsibility to ensure that the savings from the removal of subsidy on petrol are spent solely for the benefit of the 137 million poor Nigerians who are bearing the brunt of the removal.”
SERAP said, “Prevention of corruption in the spending of savings from the removal of subsidy on petrol and preventing and addressing the challenges caused by the removal are serious and legitimate public interests.”
“Nigerians have the right to know how the savings are spent. Publishing the details of the spending of the savings would promote transparency, accountability, and reduce the risks of corruption in the spending of the funds.”