Former Minister for Education and Health, Professor Ihechukwu Madubuike, has voiced the importance of the Federal Government disclosure of beneficiaries of the fuel subsidy regime.
The former Commissioner for Finance in the Old Imo State expressed his belief that the government’s cessation of fuel subsidy is an inadequate measure unless accompanied by transparency regarding the specific individuals who profited from it.
Professor Madubuike posits that the Federal Government must go beyond mere claims of discontinuing the fuel subsidy program, as this would not sufficiently serve the interests of the public unless the identities of the beneficiaries are made known.
By divulging the information, the government can effectively address concerns about the subsidy’s allocation and shed light on the individuals who reaped the profits. Such disclosure would promote accountability, enhance public trust, and foster a more inclusive and equitable system of resource distribution.
In addition, Professor Ihechukwu Madubuike called for a thorough investigation into the statements made by the former Governor of Bauchi State, Isa Yuguda. Recently, Yuguda openly admitted that a close acquaintance had expressed weariness in profiting from the fuel subsidy system.
According to Professor Madubuike, it is crucial for Mr. Yuguda to provide the identity of the aforementioned individual, enabling a comprehensive examination of the matter.
Professor Madubuike’s call for Mr. Yuguda’s cooperation in revealing the identity of his associate aligns with his commitment to promoting transparency and eradicating corrupt practices within the fuel subsidy game.
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‘Who are these people who have gained from fuel subsidy all these years? There was a statement credited to a former Governor of Bauchi State, Isa Yuguda, that his friend told him that he was tired of making money from fuel subsidy.’
‘That’s the place to start with if this country wants to be saved. He should be asked who that his friend is. Who are the other beneficiaries? Take them to tribunal and recover the money first and use it to build roads, hospitals, schools and health centres.’
‘That’s where to start if they are serious so we can know who their patrons are. Were they using the money to provide the guns being used in killing people in Plateau, Southern Kaduna and South East?’
‘These things have continued because we are in a state capture. Everything goes even though we have a leadership, the leadership is in autopilot. It doesn’t hold anybody accountable.’
The former Minister went on to state that merely arresting and incarcerating the former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, wasn’t sufficient, given that those responsible for authorizing his actions were moving about without constraint.
Insisting on transparency, he emphasised that Emefiele must bring to light the names of all those who granted approval for his actions, which were considered illegal. To genuinely filter the CBN, the former Minister argued that these individuals must also be brought to trial.
‘Now they have arrested the former CBN Governor, Emefiele. But he didn’t act alone. So, a country that is sincere should find out the truth from him, and all those who are implicated will be punished. The problem with Nigeria Government is that it does media trial, and it stops there.’
Professor Madubuike decried the harsh policies of the ruling All Progressive Congress, APC, saying they have further impoverished Nigerians.
‘Having removed the fuel subsidy, how is the Government going to provide for the underserved who are now bearing the brunt of the removal? This is happening at a time the foreign exchange rate was also floated.’
‘About 7.2 million Nigerians are being added to the poverty list simply because of the wrong policies of the ruling party. Both the fuel subsidy removal and forex floating have created serious impacts on the cost of living.’
‘We expect that whatever they have gained from subsidy removal should be ploughed back to the people of Nigeria this month. But we haven’t seen anything done.’
‘Banditry is increasing, cost of food is increasing, crime wave is on the increase. So, they have to work very fast to ensure Nigeria is workable.’
He underlined the importance of thorough investigations based on factual information to address concerns regarding improper gains and ensure a fair and just outcome.