The African Democratic Congress (ADC) has challenged Senator Abdul’aziz Yari, Director-General of President Bola Tinubu’s 2027 re-election campaign, to explain how Nigerians have benefited from the additional revenues generated since the removal of petrol subsidy.
The party said Yari should account for what Nigerians had gained from the trillions of naira that have accrued to the federal, state and local governments before dismissing promises by former Vice President Atiku Abubakar to provide economic relief as deceptive.
The ADC, in a statement signed by its spokesman, Bolaji Abdullahi, said Yari’s comments were significant because he was speaking not only as an APC senator but also as the official leading the campaign to secure another term for President Tinubu.
The party said Federation Account Allocation Committee (FAAC) disbursements had increased substantially since the removal of the petrol subsidy shortly after Tinubu assumed office in May 2023.
According to the ADC, the increase has been driven by savings from subsidy payments, exchange-rate adjustments and higher naira-denominated oil revenues, resulting in significantly higher allocations to the three tiers of government.
It, however, argued that the increase in government revenue had coincided with severe economic hardship for millions of Nigerians.
The party said the sharp increase in petrol prices following deregulation had contributed to higher transportation and food costs, while the depreciation of the naira and rising energy costs had further weakened household purchasing power.
The ADC said the situation had triggered renewed debate over whether the additional revenues accruing to governments had translated into improved infrastructure, social services and living conditions for citizens.
It noted that critics had continued to question how the increased FAAC allocations were being utilised, particularly by state governments, amid persistent challenges involving poor roads, inadequate healthcare, unemployment and the rising cost of living.
The party also pointed to the borrowing activities of several state governments despite the substantial increase in their monthly allocations from the Federation Account.
While acknowledging government arguments that inherited infrastructure deficits, debt obligations, wage commitments and rising operating costs had constrained the immediate impact of increased revenues, the ADC said Nigerians were entitled to demand greater transparency and accountability.
The opposition party accused the Tinubu administration of failing to demonstrate sufficient tangible benefits from the economic reforms and sacrifices imposed on citizens.
The statement comes amid an intensifying political debate ahead of the 2027 general election, with the ruling All Progressives Congress (APC) defending the administration’s reforms as necessary measures to stabilise the economy, while opposition parties maintain that Nigerians have yet to experience corresponding improvements in their standard of living.
The ADC said the debate should focus on how savings and additional revenues from petrol subsidy removal and foreign exchange reforms had been deployed, as well as concrete measures to reduce transportation costs, food prices and inflation.
“If the message of the president’s re-election campaign is that Nigerians must accept today’s hardship as permanent and anyone promising relief is a liar, then Nigerians must be seriously concerned,” the party said.
