The administration said on Thursday that certain federal budget plan leaks that went viral on social media do not accurately represent the government’s actual stance on the subject.
The president stated that the documents that have gone viral are merely drafts and ideas that have not yet received the president’s final approval in a statement released by Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy.
The documents that were leaked were named by Onanuga as the Accelerated Stabilization and Advancement Plan (ASAP) and the Inflation Reduction and Price Stability (Fiscal Policy Measure etc.) Order 2024. It was highlighted that Tinubu had not signed an executive order on any of the documents because they were still being reviewed.
He continued by saying that the two documents have given rise to publications that question the government’s stance on fuel subsidies, customs duties, and other economic issues. Public officials should, however, ignore media stories since they do not reflect the government’s stance on these programs.
The announcement made clear that President Bola Ahmed Tinubu’s declaration on May 29, 2023, that the fuel subsidy system has ended, still represents the administration’s stance on the matter.
Onanuga went on to say that, contrary to popular belief and discussion, N5.4 trillion is not being set aside for it in 2024.
The statement titled ‘LEAKED DOCUMENTS ON FISCAL POLICY PROPOSALS NOT OFFICIAL,’ reads:
“The attention of the Presidency has been drawn to two fiscal policy documents in circulation that are being given wide coverage by the mainstream media and social media platforms.
“One of the documents titled Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024 is being shared as if it were an executive order signed by President Bola Ahmed Tinubu.
“The other is a 65-page draft document with the title “Accelerated Stabilisation and Advancement Plan (ASAP), which contains suggestions on how to improve the Nigerian economy. President Tinubu received a copy of the draft on Tuesday.
“We urge the public and the media to disregard the two documents and cease further discussions on them. None is an approved official document of the Federal Government of Nigeria. They are all policy proposals that are still subject to reviews at the highest level of government. Indeed, one has ‘draft’ clearly written on it.
“According to the Coordinating Minister of the Economy, Mr. Wale Edun, “It is important to understand that policymaking is an iterative process involving multiple drafts and discussions before any document is finalised.
“We assure the public that the official position on the documents will be made available after comprehensive reviews and approvals are completed.”
“Emanating from the two documents have been reports second-guessing government’s policy on customs tariffs, fuel subsidy and other economic matters.
“The government wants to restate that its position on fuel subsidy has not changed from what President Bola Ahmed Tinubu declared on 29 May 2023. The fuel subsidy regime has ended. There is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed,” Edun stated.
“The Coordinating Minister of the Economy further clarified: “As previously stated by government officials, including myself, President Tinubu announced the end of the fuel subsidy program last year, and this policy remains firmly in place.
“The Federal Government is committed to mitigating the effects of this removal and easing the cost of living pressures on Nigerians.
“Our strategy focuses on addressing key factors such as food inflation, which is significantly impacted by transport costs. With the implementation of our CNG initiative, which aims to displace high PMS and AGO costs, we expect to further reduce these costs.
“Our commitment to ending unproductive subsidies is steadfast, as is our dedication to supporting our most vulnerable populations”.
We call on the media to always exercise necessary checks and restraints in the use of documents that do not emanate from official channels so that the members of the public are properly informed, guided and educated on government policies and programmes.”
