NEW TELEGRAPH
The failure of those in charge of subsidy savings to come out clear how the N400 billion said to have been saved so far has been expended has stirred another controversy as an economic rights group has demanded explanation from the Federal Government.
While demanding explanation to this effect, the Group, Socio-Economic Rights and Accountability Project (SERAP), called on President Bola Tinubu to urgently publish details of spending of the funds so far saved as a result of the removal of subsidy on popularly called petrol.
SERAP urged him to “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.”
In a statement by Deputy Director Kolawole Oluwadare, the group also told Tinubu to “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.”
In its letter dated July 1 addressed to the President, SERAP 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.
“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.”
It added: “SERAP is concerned that the savings from subsidy removal may be embezzled, misappropriated, or diverted into private pockets. “Opacity in the spending of the savings from subsidy removal would have negative impacts on the fundamental interests of the citizens and the public interest.”
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