Ex-Bauchi State Governor, Isa Yuguda, contends that President Bola Tinubu eliminated a subsidy that benefited private individuals rather than petroleum products.
Despite Tinubu’s proclamation ending fuel subsidy in his inaugural speech on May 29, 2023, Yuguda insists that the Federal Government continues to pay subsidies for petroleum products.
In February, the International Monetary Fund (IMF) recommended in one of its reports that Nigeria should fully eliminate expensive fuel and electricity subsidies as part of measures to tackle its economic challenges.
However, speaking with Channels Television’s Politics Today on Monday, the former governor 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. Today that revenue increase that we see is reflected in the removal of the monies that were going into the pockets of private individuals, instead of what should be going into the treasury of the country.”
