Breaking News: Presidency Fires Back at Amaechi Over Subsidy Remarks, Says Ex-Minister Still Bitter Over 2022 Loss
The Presidency has issued a scathing response to former Minister of Transportation, Rotimi Amaechi, following his recent comments questioning the management of fuel subsidy savings under the administration of President Bola Tinubu.
Amaechi, speaking at his 60th birthday celebration in Abuja last month, accused the Tinubu-led government of diverting the supposed gains from fuel subsidy removal into private pockets.
“If I were president, yes, I would pursue some of the policies they are pursuing, but ask what the failure is: the failure is that the gains of those policies are in their private pockets,” the former Rivers State governor said. “At one point, we were paying between four to five trillion naira as subsidy; where is the money now?”
Responding via a detailed statement posted online, Special Adviser to the President on Social Media, Dada Olusegun, condemned Amaechi’s remarks as “outlandish” and “politically motivated,” suggesting they stem from his inability to move on from his defeat in the 2022 APC presidential primaries.
“More than two years after his primary election loss, it appears Chibuike Rotimi Amaechi has not gotten over the legitimate pain of defeat,” Olusegun stated. He accused Amaechi of aligning with opposition forces and attempting to discredit the administration with misleading narratives.
On the issue of fuel subsidy, Olusegun clarified that the real benefit of its removal was the halting of excessive borrowing and stopping the practice of mortgaging Nigeria’s future oil earnings. He revealed that since January 2025, the Nigerian National Petroleum Company Limited (NNPCL) resumed remitting 50% of crude oil revenues to the federation account, increasing disbursements to states significantly.
“These tiers of government are not private pockets,” Olusegun noted, adding that improved allocations have allowed 33 states to repay ₦1.85 trillion of their ₦5.82 trillion domestic debt.
He also addressed the FX reforms under Tinubu, saying the decision to float the naira ended a damaging multiple exchange rate regime that cost the country ₦13.2 trillion in losses between 2021 and 2023.
“Nigeria is no longer on the IATA list of countries with blocked funds,” Olusegun stated, attributing the removal of Nigeria from the list to improved FX liquidity and fiscal discipline.
He did not spare Amaechi’s record as a former minister, saying: “This administration is cleaning up the mess it inherited, including from individuals like Mr. Amaechi, who now seek to play the saint.”
The presidency’s sharp rebuke underscores growing tensions within the ruling APC as it grapples with internal criticism amidst ongoing economic reforms.