Former Bauchi State governor, Isa Yuguda, has said the Bola Tinubu-led federal government still pays subsidy on petroleum products.
Recall that President Tinubu had announced an end to the subsidy regime during his inaugural speech on May 29, 2023.
But speaking to ChannelsTV on Monday evening, Yuguda noted that recent revelation by the International Monetary Fund (IMF) that the Tinubu government was still paying subsidy could not be further from the truth.
”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,” Yuguda said.
”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.”
On the economic hardship facing the country, the former governor said the average Nigerian will not understand the challenges the president has to face in resolving the economic situation.
Yuguda noted that the members of the president’s cabinet need to help in sensitising the masses on how the government policies will change the nation.
”I will expect the cabinet of Mr President to go down the strata of our society and explain to the people that this is the situation that we have found ourselves in,” Yuguda said.
”If we hadn’t had our Central Bank messing us up and the economy that has been mismanaged in the past, it wouldn’t be the way it is today.”
He attempted something that he can’t execute. He just put citizens in terrible conditions of hardship and suffering. He is neither going back or forward and so doing things would deteriorate the more. In the history of fuel increment, none as case now; from #195 to #665 per litre. About #500 increment at once.
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,” Yuguda said.
”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.”
Sir, nothing has change and it’s even worst than before. The money still going to private pockets -from private pockets of importers to the private pockets Governors. The importers were given us cheap fuel but the Governors getting twice or thrice of their allocation, we are not seeing what they are doing with the increased allocation. Where is the money going? Present individuals’ pockets. The former benefits the masses but the present doesn’t benefit the masses.