“FG only removed fuel subsidy going into private pockets” — Isa Yuguda
Former Governor Isa Yuguda of Bauchi State has said that the federal government is still paying subsidy on petroleum products.
Yuguda claimed that the fuel subsidy that was removed by FG was the one that was going into private pockets of some politicians.
Yuguda
Yuguda stated this in an interview on Channels Television’s Politics on Monday.
Recall that President Bola Tinubu, in his inaugural speech, announced that “The fuel subsidy is gone.”
The President added that the 2023 Budget made no provision for fuel subsidy and more so, subsidy payment was no longer justifiable.
Also, the International Monetary Fund (IMF) in one of its reports last month also advised Nigeria to completely phase out costly fuel and electricity subsidies as part of measures to address its economic challenges.
Speaking on the issue of subsidy, Yuguda said ”If the IMF says we are paying subsidy then we are. But the subsidy that was removed was the one that was going into private pockets and I decoupled that subsidy that ordinarily shouldn’t have been paid.
”If it should have been paid it should be paid into the treasury of the country and today that revenue increase that we see is reflected in the removal of the monies that were going into the pockets of private individuals is what is going into the treasury of the country.
”You have that subsidy being paid on petrol products that are pumped through pipelines and in many instances they are pumped through imaginary pipelines, where the pipelines don’t exist, sow e all pay subsidy but that what was the President removed, that is why most states are getting twice or thrice of their allocation.
