‘Atiku’s fuel subsidy proposal will return Nigeria to corruption era’

A prominent figure within Nigeria's ruling All Progressives Congress (APC) has strongly criticized the opposition's proposal to reinstate fuel subsidies, warning it would revive a system plagued by corruption and inefficiency. Aminullah Mustapha, an APC chieftain and petroleum marketer from Kebbi State, argued that reintroducing subsidies would drag Nigeria back into a "wasteful, opaque and vulnerable to massive abuse" regime.

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During the subsidy regime, a lot of funds allocated to oil marketers were not going to the designated areas. Funds were allocated to bogus marketers to transport oil tankers, but they ended up collecting the money without transporting any oil.

Drawing on his experience in the petroleum business, Mustapha alleged that the previous subsidy system led to billions of naira being lost. He cited fraudulent claims, the diversion of petroleum products to neighboring countries like Niger and Benin Republic, and payments made to "bogus marketers" who never delivered oil as key issues. "Some oil tankers which were paid for under the subsidy regime ended up in neighbouring countries such as Niger and Benin Republic," he stated, adding that "other countries were benefiting from the subsidy that was meant for Nigerians."

Mustapha also claimed that some depot owners received payments for imported petroleum products before they arrived in Nigeria, with some allegedly failing to deliver the goods. He lauded President Bola Ahmed Tinubu's decision to remove the fuel subsidy, describing it as a "courageous and honest" move aimed at stopping these alleged leakages. He accused political figures, including Abubakar, of knowing the subsidy regime was corrupt but remaining silent due to "political desperation."

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Some oil tankers which were paid for under the subsidy regime ended up in neighbouring countries such as Niger and Benin Republic. This means other countries were benefiting from the subsidy that was meant for Nigerians.

The APC chieftain urged Nigerians to scrutinize proposals to restore the subsidy, emphasizing that the country should not revert to a system that allowed public resources to be diverted. Instead, he advocated for policies focused on strengthening domestic refining capacity, enhancing transparency in the petroleum sector, reducing reliance on imported fuel, and providing targeted relief to citizens impacted by rising living costs.

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President Tinubu was courageous and honest with Nigerians by removing the subsidy. Many Nigerian leaders, including Atiku Abubakar, know that the subsidy regime was marred by corruption, but because of political desperation, they do not want to tell Nigerians the truth.