Financial advisor and educator, Kalu Aja, has faulted the decision of the President Bola Tinubu’s administration to channel subsidy savings directly into the Federation Account Allocation Committee, FAAC, for disbursement.

In a post on X on Thursday, Aja argued that the funds should have been ring-fenced, highlighted, and tagged to specific projects so that citizens could hold state and local governments accountable for their use.

According to him, this would not amount to creating a new bureaucracy or fund, but simply ensuring that the additional revenue from subsidy removal is transparently tracked.

He said: “The Tinubu administration made a mistake of simply plowing the subsidy savings into FAAC, this is my opinion.

“The monetary savings from FAAC should have been ring-fenced, highlighted and then shared out. Then the administration can point to projects funded from that fund.

“This is not the creation of a fund or bureaucracy, but simply tagging the extra income, so grassroot citizens can hold governors and LGAs to account.”

Tinubu’s govt wrong to channel subsidy savings into FAAC – Kalu Aja