Members of Cabal were enriching themselves with susbidy payments – NNPC GMD, Mele Kyari

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Mele Kyari, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) has alleged that members of a cabal were enriching themselves with susbidy payments before it was removed by the federal government. 

Kyari who said this in an Hausa programme on Liberty FM, Kaduna, insisted that fuel subsidy was not beneficial to the masses and was removed because it was characterised by fraudulent activities.

The NNPC GMD also disclosed that the money from subsidy payment will now be channeled into projects that will have a direct impact on the masses.

Kyari said; 

“The crude oil is a global commodity and its price is not hidden, everyone can calculate and know how much is the cost of every final product from the crude at the international market. But, since the inception of oil importation, the government has been paying subsidy on petrol to make it cheaper for Nigerians to buy below the cost price. 

“This subsidy is designed to assist Nigerians, that is the intention. But in reality, the masses are not the beneficiaries. First, the masses are not the owners of the exotic cars, buying fuel, owning the filling stations, and doing the oil business.

“This subsidy that the government has been paying over the years is the root of all the atrocities and fraud committed in this country.

“For example, if you look at it from 2006 till 2020, we have spent over N10 trillion on fuel subsidy. Apart from that, there is also subsidy on foreign currencies, everybody knows how much is dollar in the market, but the government is also subsidising it. So, this and the fuel subsidy, within this period, have gulped between N14 trillion and N15 trillion.

“It was not the masses of Nigeria that were enjoying this subsidy, except some members of a cabal, who are rich and powerful. They were enriching themselves with the subsidy money at the detriment of the masses who were the primary target.

“From this money, Nigeria has been able to pay workers’ salaries without retrenching despite the effects of the COVID-19 on the global economy. 

“In the whole of West Africa, it is only Nigeria that didn’t retrench workers as a result of the pandemic. Apart from that, part of the money will be used to support farmers and other business owners.”

15 Comments

  1. It’s not a matter of retrenching or absorbing workers, why are you making life difficult for average Nigerians at the moment? No one asked you not to remove subsidy but you should look for a way of making everything easy for masses in terms of amenities.

  2. I am sick and tired of all these long stories and grammar. This subsidy story is really annoying. Today they say no subsidy, tomorrow they say there is subsidy
    Which one do we take. Until the government starts to tell us the truth and do things the right way, that is the time we will make a head way in this nation
    The masses are in serious agony due to over suffering and they are busy playing serious politics with our common source of wealth

  3. Doing the right thing at the wrong time. At the time when Nigerians are still battling with COVID-19 pandemic with nothing at hand, many Nigerians does not have food to eat you now said you increase electricity tariff, removing subsidy at this time is a disaster to us. Government should look for a way to remove subsidy without giving much problem to the citizens.

  4. Who are the cabals in the Presidency? Be bold enough to expose them without any recourse. Otherwise u will be seen to be an accomplice. Nigerians are waiting to hear the details,The Masses Are In Serious Agony Due To Over Suffering And They Are Busy Playing Serious Politics With Our Common Source Of Wealth

  5. That is the truth be but let them continue enriching themselves, they will all leaves everything behing one like Abba kyari once did

  6. Quickly mention the names of those cabals who are looting our treasury in this present administration in the name of subsidy.
    Enough of this baseless accusations by APC government.
    Proof to us what you are doing to help Nigeria.

  7. Why are you just Making everything difficult for us in the country, this what you are doing we later bounce back on your children. May God spare us from this hardship of President Muhammadu buhari administration.

  8. Which One Do We Take. Until The Government Starts To Tell Us The Truth And Do Things The Right Way, That Is The Time We Will Make A Head Way In This Nation

  9. President Buhari came out to say there are no cabals in his administration. Now what we hear is that the cabals are the one benefitting from the subsidy. If I can recall, I have heard The same president Buhari say there is nothing like subsidy. I bet, this administration is a scam

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