Account for N14trn fuel subsidy savings or face legal action – SERAP to Govs, Wike
Socio-Economic Rights and Accountability Project, SERAP, has warned Nigeria’s 36 state governors and the Minister of the Federal Capital Territory, Nyesom Wike to quickly disclose the spending details of the estimated N14trn fuel subsidy savings they collected from FAAC allocations or face legal action.
Deputy Director of SERAP, Kolawole Oluwadare, issued this warning in the Freedom of Information requests dated 4 October 2025.
SERAP charged them to provide details of the plans on how subsequent fuel subsidy savings they expect to collect from FAAC allocations, including details of any planned projects on which the money would be spent.
The rights group also urged them to publicly invite the Independent Corrupt Practices and Other Related Offences Commission, ICPC, and Economic and Financial Crimes Commission, EFCC, to track and monitor the spending of the fuel subsidy savings collected by you, to ensure that the money is not diverted into private pockets.
The governors and the FCT minister are said to have collected trillions of naira from FAAC allocations as fuel subsidy savings since mid-2023.
But the increased allocations have not translated into improved access to basic public services, such as quality healthcare and education for poor and vulnerable Nigerians.
“There is a legitimate public interest for governors and the FCT minister to urgently explain how they have spent the money they have so far collected from the subsidy savings.
“The savings from the removal of fuel subsidy ought to be spent solely for the benefit of the poor and vulnerable Nigerians who are bearing the brunt of the removal. Transparency in the spending of the money would help to avoid a morally repugnant result of double jeopardy on these Nigerians.
“There is a significant risk of mismanagement or diversion of funds linked to the increased FAAC allocations collected by the states and FCT.
“The spending details of the money collected by several states and the FCT from fuel subsidy savings have been mostly shrouded in secrecy.
“Millions of poor and vulnerable Nigerians have not benefited from the trillions of naira collected by the governors and FCT minister from as a result of the subsidy savings. Nigerians continue to face a worsening poverty crisis,” SERAP said.