Former Governor of Bauchi State, Isa Yuguda, has contradicted the federal government's claims, stating that subsidy payments on petroleum products are still ongoing. Despite President Bola Tinubu's 2022 announcement that "The fuel subsidy is gone," Yuguda claims that subsidies persist, raising questions about the transparency and effectiveness of recent policy changes.
Yuguda's remarks come in the wake of the International Monetary Fund's recommendation for Nigeria to phase out costly fuel and electricity subsidies to address economic challenges. The removal of subsidies has contributed to a significant petrol price surge, tripling costs from less than N200 per litre to approximately N700 per litre across major cities. This surge has triggered widespread economic repercussions, amplifying the financial strain on millions of citizens.
During an interview on PoliticsToday, Yuguda acknowledged the existence of subsidies but argued that the ones removed were siphoned into private pockets. He emphasized the importance of redirecting such funds into the country's treasury, contributing to increased revenue. Yuguda also shed light on the complexities of subsidy payment, citing instances where subsidies were allocated for imaginary pipelines.
Addressing the economic hardship in Nigeria, Yuguda called for greater communication from the government, urging President Tinubu's cabinet to engage with the public and explain how policy changes aim to transform the nation. Despite Yuguda's claims, the broader narrative surrounding subsidy removal remains a complex issue, prompting further scrutiny and discussion on the government's economic strategies.
