You Also Benefited Heavily from Fuel Subsidy, Ex-Presidential Aide Fires Otedola

Umar Sani, a former presidential aide to ex-Vice President Namadi Sambo, has fired back at billionaire businessman Femi Otedola, accusing him of rewriting history in his recent comments about Nigeria’s fuel subsidy system.
Otedola had recently criticized the fuel subsidy regime, calling it deeply corrupt and blaming members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN)—which he claimed to have founded—for fueling the fraud through outdated infrastructure and false subsidy claims. He alleged that over ₦2 trillion was siphoned during the Goodluck Jonathan administration.
But Sani, in a statement shared on his X (formerly Twitter) account, said Otedola’s remarks were misleading and failed to acknowledge his own involvement in the same system.
“The subsidy regime didn’t start with Jonathan,” Sani wrote. “It was deeply rooted under Obasanjo, continued under Yar’Adua, persisted during Jonathan’s time, and even got worse under Buhari. Otedola himself was a major beneficiary during that era.”
He pointed out that Zenon Petroleum and Gas Ltd, Otedola’s company, once controlled up to 90% of diesel imports and profited heavily from the same subsidy framework the billionaire now condemns.
Sani also recalled that Jonathan’s government commissioned a forensic audit led by Aigboje Aig-Imoukhuede to expose fraudulent subsidy claims, and that efforts to reform the system were consistently blocked by powerful interest groups.
“Otedola’s name came up during the forensic probe and the House of Representatives ad-hoc committee investigation on subsidy, led by Farouk Lawan,” Sani added.
He referenced the infamous Otedola-Lawan bribery scandal, where the businessman admitted to giving Lawan marked money — later claiming it was part of a sting operation.
“Instead of acting morally superior, Otedola should be honest about his own role,” Sani said. “His comments sound more like an image-cleansing PR move than genuine concern.”
He challenged Otedola to support a full, independent investigation into the subsidy system across all administrations — including the years he personally benefited — instead of pushing “selective narratives.”
“Until then, his accusations are just the pot calling the kettle black,” Sani concluded.