Exposed: How Bola Tinubu Removed Non-Existent Fuel Subsidy, Subjected Citizens to Economic Hardship

Summary

The speaker expresses frustration over the Nigerian government's alleged subsidy removal and fuel price increase without evidence of actual subsidy payments. They accuse officials of being aware of the non-existence of the subsidy yet proceeding with policies that harm the public, such as raising fuel prices, privatizing companies, and increasing school fees. The speaker calls for justice, demanding the reversal of fuel prices to the original 195 Naira and the pursuit of those who fraudulently collected subsidy funds.

Takeaways

• 📋 The speaker is compiling a list of emails and phone numbers of major oil marketers to seek feedback on subsidy receipt from 2016 to 2023.
• 😠 The speaker expresses frustration over the narrative that subsidy was unsustainable, which they believe to be unfounded based on documents obtained.
• 💼 It is suggested that some individuals were fraudulently collecting money under the guise of subsidy payments, causing unnecessary hardship for Nigerians.
• 🔍 The speaker is determined to expose those involved in the alleged fraudulent subsidy regime and plans to take legal action if necessary.
• 📬 Just before sending out emails, the speaker receives a message about a probe by the House of Representatives into subsidy regime payments.
• 🏦 The House of Representatives' ad hoc committee found that the profiles of 23 oil companies in Nigeria are unknown, according to the Corporate Affairs Commission.
• 🗣️ The committee chairman, Honorable Mustafa Ibrahim Alyu, indicated that oil companies have serious questions to answer regarding their role in subsidy payments.
• 🛢️ Companies like Sahara Energy, Oando PLC, and others clarified that they were only involved in the direct sale-direct purchase scheme and not in subsidy payments.
• 🤔 The speaker questions who received the subsidy payments if the major marketers claim they did not, pointing to a potential misappropriation of funds.
• 📉 The speaker calls for justice and demands that the petrol price be reverted to the previous rate of 195 Naira, where the NNPC was already profitable.
• 🏛️ The speaker accuses the current administration of being complicit in the subsidy issue and calls for them to take action against those who fraudulently collected subsidy funds.

Q & A

What was the purpose of compiling a list of emails and phone numbers of major oil marketers?

The purpose was to contact them for feedback on whether they received full subsidy from 2016 to 2023, as there were doubts about the existence of such subsidies.

What was the reaction of the speaker upon receiving a message from a friend regarding the subsidy issue?

The speaker was shocked and annoyed, as the message seemed to confirm their suspicions that the subsidy regime was a fraud and that the government was acting on false premises.

What did the speaker believe about the subsidy payments made by the Nigerian government?

The speaker believed that the subsidy payments were fraudulent, as there was no evidence of any subsidy being paid to the oil marketers, yet the government continued to claim that subsidies were unsustainable.

What was the speaker's view on the mainstream media's portrayal of the subsidy issue?

The speaker felt that the mainstream media was biased, with so-called experts seemingly paid to argue in favor of subsidy removal without considering the evidence that suggested no subsidy was paid in the first place.

What actions did the speaker plan to take against the oil marketers involved in the subsidy regime?

The speaker planned to send emails and make phone calls to the oil marketers, and if they did not respond, to send hard copy letters and eventually take them to court to expose the fraud.

What was the outcome of the House of Representatives' investigation into the subsidy regime?

The investigation revealed that the profiles of 23 oil companies trading in Nigeria were unknown, and the oil marketers involved in the Direct Sale Direct Purchase (DSDP) arrangement claimed they were not part of any subsidy payment.

What was the speaker's opinion on the government's decision to increase the pump price of petrol?

The speaker believed the decision was wicked and unnecessary, as it was based on the false premise of subsidy removal and led to undue hardship for Nigerians.

What evidence did the speaker mention to support their claim that there was no subsidy payment made?

The speaker mentioned documents obtained about the DSDP arrangement, studies, and empirical data presented by Dr. Agbo that showed the Nigerian National Petroleum Company (NNPC) was already making a profit even at the old pump price.

Who were the companies that claimed they were only involved in lifting crude oil in the DSDP arrangement?

Sahara Energy Resources Limited, Oando PLC, and AA Rano were the companies that claimed they were only involved in lifting crude oil and not part of any subsidy payment.

What was the speaker's demand in response to the findings of the House of Representatives' investigation?

The speaker demanded justice, including reverting the pump price of petrol back to the original price of 195 Naira, and going after those who fraudulently collected subsidy payments.

What was the speaker's view on the role of international financial institutions in Nigeria's subsidy and economic policies?

The speaker accused the government of dancing to the tune of the World Bank and IMF, implementing policies such as subsidy removal and privatization to please these institutions, despite knowing the negative impact on Nigerians.