The Presidency has explained that President Bola Ahmed Tinubu will not reintroduce the fuel subsidy regime because it has historically been riddled with fraud, with benefits going primarily to non-Nigerians and corrupt players in the petroleum industry rather than ordinary citizens.
Special Adviser to the President on Policy Communications, Daniel Bwala, made the clarification during an interview on Channels Television’s Politics Today on Thursday.
According to Bwala, the subsidy regime was deeply entrenched with fraudulent practices, making its return unsustainable.
“The reason President Tinubu has refused to return the subsidy on fuel is that historically the beneficiaries of this subsidy are not the Nigerian people. It is fraud people in that industry,” Bwala said.
He however noted that the concept of subsidy is not completely rejected by the government, citing examples such as 50% subsidy on dialysis and support for agricultural inputs that directly benefit Nigerians.
Bwala added that all state governors are currently happy with the increased revenues accruing to states following the subsidy removal and forex reforms.
He described President Tinubu’s leadership style as flexible and pragmatic, stating that the President remains open to targeted subsidies where necessary.
“President Bola Tinubu’s style of leadership is not rigid. It’s flexible... If there is a demand for subsidy, President Tinubu will do that for now,” he said.
The fuel subsidy was removed by President Tinubu shortly after assuming office in May 2023, a decision that led to a sharp rise in petrol prices but has been credited by the government with freeing up funds, boosting state revenues, and eliminating long-standing corruption in the sector.
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