Former Bauchi State Governor Isa Yuguda has stated that the federal government still pays subsidies on petroleum products, contradicting President Bola Tinubu's assertion that the fuel subsidy has been removed.
President Tinubu had declared in his May 2023 inaugural speech that the fuel subsidy was gone, noting that the 2023 Budget made no provision for it and that subsidy payments were no longer justifiable.
However, Yuguda argued that the subsidy that was removed was going into private pockets, and he emphasized that if subsidy payments were justified, they should be paid into the country's treasury. He claimed that the increase in revenue seen since the removal of the alleged private pocket subsidies now goes into the treasury.
Yuguda further highlighted issues with the subsidy payment process, mentioning instances where subsidies were paid for petroleum products pumped through imaginary pipelines. Despite the removal of these subsidies, he noted that most states are now receiving higher allocations.
Regarding the country's economic hardships, Yuguda suggested that the president's cabinet should engage with the public to explain the challenges faced, particularly emphasizing the impact of past economic mismanagement by the Central Bank and previous administrations.
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