A former minister calls for the disclosure of fuel subsidy beneficiaries
Professor Ihechukwu Madubuike, a former Minister of Education and Health, has expressed the need for the Federal Government to unveil the identities of all individuals who have benefited from the fuel subsidy system.
In an exclusive interview with Vanguard, the former Commissioner for Finance in the Old Imo State emphasized that it is insufficient for the government to merely claim that it has ended fuel subsidy, as this only benefits a select few individuals without revealing their identities.
Furthermore, he strongly advocated for an investigation into the statements made by former Governor of Bauchi State, Isa Yuguda, who confessed to being tired of profiting from fuel subsidy through a friend. Professor Madubuike insisted that Yuguda should disclose the identity of this friend for further examination.
"If we truly want to save this country, we must start by uncovering the individuals who have profited from fuel subsidy all these years," he asserted. "The statements made by Isa Yuguda offer a starting point. He should be questioned about the identity of his friend. Who are the other beneficiaries? They should be brought before a tribunal, and the misappropriated funds should be recovered and allocated towards building essential infrastructure such as roads, hospitals, schools, and health centers."
In addition, the former minister emphasized that merely arresting and detaining the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, was insufficient, as those who authorized his actions remained at large without any consequences.
He insisted that Emefiele should be compelled to reveal the identities of all those who granted approval for his deemed illegal actions. According to him, if the country genuinely desires to cleanse the Central Bank of Nigeria (CBN), these individuals should also face trial.
"Now that they have apprehended the former CBN Governor, Emefiele, it is crucial to uncover the whole truth from him. Those implicated should face appropriate consequences if Nigeria truly aims to ensure accountability. The issue lies in the fact that the Nigerian government tends to engage in media trials without progressing further."
Professor Madubuike expressed his dismay over the harsh policies implemented by the ruling All Progressive Congress (APC), asserting that these policies have exacerbated the financial hardships faced by Nigerians.
"With the removal of fuel subsidy, how does the government intend to support the underserved population who are now bearing the brunt of this decision? All this is happening amidst the floating of the foreign exchange rate."
"Due to misguided policies implemented by the ruling party, approximately 7.2 million Nigerians have been pushed into poverty. The removal of fuel subsidy and the floating of the foreign exchange rate have had severe consequences on the cost of living.
We anticipated that the gains from the subsidy removal would be reinvested into the welfare of the Nigerian people this month. However, we have yet to witness any significant actions in that regard.
Banditry is escalating, the cost of food is skyrocketing, and there is a surge in crime rates. Urgent measures must be taken to restore functionality to Nigeria."
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