Social commentator Isaac Fayose has criticised the Federal Government's economic policies, arguing that Nigerians have yet to see sufficient benefits from the removal of subsidies on petrol and electricity.
Fayose, in a statement circulating on social media, said the APC-led government removed subsidies on petrol and electricity, but questioned what has happened to the money previously spent on subsidising those sectors.
“APC government removed subsidies on petrol and electricity, but the subsidy money is now for the government enjoyment,” Fayose said.
His comments have reignited the debate over one of the most politically sensitive aspects of President Bola Ahmed Tinubu's economic reforms: whether the funds freed by subsidy reforms are translating into tangible improvements in citizens' lives.
The Federal Government has consistently defended subsidy removal as necessary to reduce fiscal pressure and redirect public resources toward infrastructure, social programmes and other areas of the economy. Critics, however, argue that the immediate consequences — including higher transportation, energy and living costs — have placed enormous pressure on households and businesses.
Fayose has previously been outspoken about the impact of fuel prices on Nigerians. In May, he criticised comparisons between petrol prices in Nigeria and the United Kingdom, arguing that such comparisons ignore differences in wages and living standards.
He has also repeatedly criticised the government's handling of electricity and fuel-related policies. Recent social-media posts attributed to him have questioned the removal of subsidies while highlighting the continuing difficulties faced by Nigerians.
At the centre of Fayose's criticism is a question that has become increasingly prominent in Nigeria's economic debate: what has happened to the resources supposedly freed by subsidy removal?
Supporters of the government's reforms argue that subsidy removal has increased revenues available to the federal and state governments and created fiscal room for public spending.
Opponents counter that increased government revenue does not automatically translate into improved living standards and that Nigerians should be able to see clear, measurable benefits from the reforms.
Fayose's "government enjoyment" remark is therefore best understood as political criticism rather than an independently established finding that subsidy savings are being spent for the personal benefit of government officials.
The controversy is likely to remain a major political issue as Nigerians assess the economic record of the Tinubu administration and look ahead to the 2027 general elections.
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