Ogun State Governor Dapo Abiodun has declared that it’s the state governors, not President Bola Tinubu, who should be explaining how the money saved from the removal of petrol subsidies is being spent. He made this bold statement on Thursday during an All Progressives Congress (APC) rally held at the Dapo Dina International Stadium in Ijebu-Ode.
Speaking in Yoruba, Abiodun argued that governors are the ones receiving the increased financial allocations that resulted from ending the subsidy regime. "They want to bring back subsidy. Are they mad? They were asking our leader to explain what he did with subsidy removal gains. It is we (governors) that should make such explanations because it is we, state governors, that collect the money," he declared, emphasizing that the direct receipt of these funds places the accountability squarely on their shoulders.
Abiodun further detailed how these funds have been put to work within their respective states. He asserted that the money has been instrumental in financing crucial infrastructure projects and supporting various development programmes. "Besides, what have we been using to build airport, road, schools, housing and incentives for farmers? Isn’t it from subsidy?" he questioned the crowd, highlighting the tangible benefits they believe have come from the subsidy removal.
The governor also took a jab at the opposition, dismissing their chances in the upcoming 2027 general elections. He expressed strong confidence in the APC's ability to secure a decisive victory over their rivals, stating, "Go and tell your people that all of them are not up to one. We will defeat them mercilessly." This political posturing comes as the financial implications of the petrol subsidy removal have become a significant talking point ahead of the elections.
The debate over how the revenue freed up by the subsidy removal is being utilised has become a major issue. Opposition figures, including former Vice-President Atiku Abubakar, have been vocal in their calls for greater transparency and accountability regarding these funds. Abubakar has even suggested a potential return to some form of fuel subsidy if he is elected president.
The administration under President Bola Tinubu has consistently defended the decision to end fuel subsidies, a move made in 2023. They argue that this action has unlocked substantial financial resources that were previously consumed by keeping petrol prices artificially low. Finance Minister Taiwo Oyedele reported in August that the federation saved approximately N15.8 trillion between June 2023 and December 2025 due to the subsidy's removal, a figure underscoring the scale of the financial shift.
This N15.8tn represents a significant portion of the national revenue, and the debate now centres on its effective deployment. While the Federal Government points to the overall savings, the specific allocation and impact at the state level, as highlighted by Governor Abiodun, remain a key point of contention and public interest.
"It is we (governors) that should make such explanations because it is we, state governors, that collect the money."
Abiodun's stance shifts the spotlight from the presidency to the state houses, suggesting that the most direct oversight of these funds should involve the chief executives of the 36 states and the Federal Capital Territory. The federal government’s allocation of increased revenue to states following the subsidy removal means a substantial portion of the savings is managed at the sub-national level.