My friend profiting from subsidy scam complained about making too much money -Ex Gov

Former Bauchi state governor, Isa Yuguda, has said that the fuel subsidy scam was so profitable to those benefiting from it so much that one of them had asked a former president to stop the fuel subsidy as they were tired of making money.

Speaking in an interview with Channels TV this morning June 26, Yuguda said he served as the chairman of a committee that looked into the subsidy regime a while back and that it was the committee he chaired that discovered the scam in the regime.

“I am sad to let Nigerians know what I saw. We came across situations where subsidy was claimed on pipelines that never existed. They just claimed that they have pumped X amount of either finished products or crude, either from Kaduna or Warri” he said.

Read Also: Fuel subsidy: Tinubu has immediate solution to cushion effect – Oshiomhole

When the former governor was asked if it was NNPC that were making the fraudulent claims, he said, “Of course. Who else is doing it. Those that are in the subsidy scam, they just fill papers, invoices and they claim subsidy on it. In fact, there was an instance of a pipeline that was supposed to exist between Lagos and Warri and tons and tons of monies were collected as subsidy on a pipeline that never existed. This is Nigeria for you.”

“When asked to address claims that oil marketers have also been fingered to be involved in the scam, he said ’They are all involved in this things. All of them. I will sadly also report that Nigeria subsidy, we go on subsidizing Sub-Saharan Africa and Central Africa because the bulk of these products are smuggled out of this country, then who is subsidizing who?”.

He said the report his committee came up with where they indicted the NNPC of being involved in the subsidy scam was submitted to the government but they failed to act on it.

‘’It can be very frustrating in Nigeria to implement policies especially where there are entrenched interests and a cabal that exists. It is just similar to this bunkeering issue. It can be stopped but you can’t stop it. It can be stopped but the political will is not there. There are so many interests that are involved there and that is what is leaidng Nigeria to where we are today. ‘ he said

Read Also: Paris Summit: Subsidy removal, FX policy essential for survival – Tinubu

Speaking further, he said ‘’The subsidy regime should have gone way back in 2012/2013. Any person that is shouting subsidies and that it is going to affect that or this is a selfish person. They are connected to the scammers killing this country.’

Infact I have one of my friends who is in the oil industry. We travelled to China with one of the Presidents of Nigeria. He told me ‘I am a member of the Economic team of Mr. President and when I went for a meeting, I told him Mr. President, Please remove this subsidy, we are tired of making money’. I am telling you to God Almighty. He said ‘We are tired of making money Mr President’, because he is a patriot and he has seen the scam that is going on there. And he told me, He is alive today’’

When asked why the former President failed to summon the courage to end the subsidy regime since it was discovered it was a scam, he said

‘’The President not have done it because of the entrenched interest and even may be at the risk of his life”