NNPC, oil marketers are beneficiaries of subsidy scam

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A former governor of Bauchi State, Isa Yuguda, has accused the Nigerian National Petroleum Company (NNPC) of operating a fuel subsidy scam alongside the oil marketers.

Yuguda said NNPC and the stakeholders in the oil industry were receiving subsidies for pipelines that don’t exist. He said they just made claims of pumping a certain amount, filling papers, tender invoices and receiving payments.

He disclosed this on Monday, during an interview with Channels TV, while discussing the fuel subsidy removal by President Bola Tinubu.

“I am sad to let Nigerians know what I saw; we came across situations where subsidy was claimed on pipelines that never existed,” Yuguda said.

Yuguda, who was also a former minister of state for transportation, stated further: “They (NNPC and Marketers) just claim that they have pumped X amount of either finished products or crude.

“Those that claim to pump the products and those that are in the subsidy scam, they just fill papers, invoices and they claim subsidy on it.”

Recall that President Bola Tinubu had during his inaugural speech on May 29, 2023 said fuel subsidy had been abolished, promising to divert the funds to more beneficial areas for Nigerians.

He noted that ‘subsidy is an elephant that was going to bring Nigeria to its knees’. He stated that he did the right thing by removing the subsidy, noting that his administration operates an open door policy that will accommodate contributions from individuals.

You have paid attention to the subsidy removal. Why should we in good heart and sense, feed smugglers and be Father Christmas to neighbouring countries, even though they say not every day is Christmas?

“The elephant that was going to bring Nigeria to its knees is the subsidy. A country that cannot pay salaries and we say we have potential to encourage ourselves. I think we did the right thing.