Former Bauchi State Governor Reveals Federal Government Still Pays Fuel Subsidy
Former Governor Isa Yuguda of Bauchi State has revealed that the federal government still pays subsidies on petroleum products. Speaking on Channels Television’s Politics Today, Yuguda stated that while the subsidy removed was going into private pockets, the current subsidy payments are directed to the treasury. He emphasized that the removal of the previous subsidy, which he described as going into the pockets of private individuals, has led to an increase in revenue reflected in the treasury.
President Bola Tinubu had announced in his inaugural speech that the fuel subsidy is no longer in place, and the 2023 Budget does not include provisions for it. The International Monetary Fund (IMF) has also advised Nigeria to phase out costly fuel and electricity subsidies as part of economic reforms.
Yuguda highlighted the challenges faced by the president in resolving economic issues and called for better communication of government policies to the public. He urged the president’s cabinet to explain the situation to the people and emphasized the impact of past economic mismanagement on the current state of the economy.
The former governor’s statements shed light on the complexities of subsidy payments and the efforts to address economic challenges. They also underscore the need for effective communication between the government and the public to ensure understanding and support for policy changes.
Vanguard News
