₦12.25trn : ₦358bn from Subsidy Removal Funding 500 Projects in Niger Delta

Lagos — The Federal Government says more than ₦358 billion generated from the removal of fuel subsidy has been remitted into development trusts, funding over 500 projects across the Niger Delta region.

The projects, according to government sources, cut across education, healthcare, road construction, and youth empowerment, forming part of the broader impact of President Bola Ahmed Tinubu’s oil and gas sector reforms, which have reportedly delivered ₦12.25 trillion in total revenue within two years.

Speaking at the Citizens Connect Conference in Lagos, the Executive Director of Citizens Awareness Network, Mr. Danladi, said Nigerians were becoming increasingly satisfied with the performance of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) under the leadership of Engr. Gbenga Komolafe.

“The reforms have brought a new level of transparency and accountability. People can now see results through the work of agencies like the NUPRC,” Danladi noted.

Government officials said the ₦358 billion channelled through the development trusts is being used to address critical infrastructure gaps and promote sustainable growth in oil-producing communities.

“These funds are no longer disappearing into opaque subsidy payments. They are now being used to deliver real projects that impact lives,” an official of the Ministry of Finance said.

However, some Nigerians remain skeptical, demanding greater transparency and visible evidence of the projects funded by the subsidy savings.

“If ₦358 billion has been used for development, Nigerians deserve to know where and how. People are still battling hardship from high fuel prices,” a policy analyst told VOP TV.

Government representatives maintain that the current economic reforms, though difficult, are laying the foundation for long-term national growth and accountability in resource management.

“This is the price of reform,” one presidential aide said. “We are building a sustainable economy, not one dependent on wasteful subsidies.”

Observers continue to call for independent monitoring of the funds to ensure that the gains from subsidy removal truly benefit citizens across the Niger Delta and beyond.