Uzodinma Reveals Beneficiaries Of Fuel Subsidy, Forex Crisis

The Governor of Imo State, Hope Uzodimma, has disclosed beneficiaries of fuel subsidy and differences in foreign exchange under former President Muhammadu Buhari’s administration.

According to him, some cabals and deities benefited from the events before President Bola Tinubu’s suspension.

Naija News reports that Uzodimma asserted this while speaking on Channels Television’s Sunday Politics.

Blaming the cabals for the country’s socioeconomic troubles, Uzodinma claimed that Tinubu’s actions, such as eliminating gas subsidy and unifying foreign currency windows, were the “passwords to entering the system” of prosperity.

He said: “I tell you, in my findings and understanding of the country, there exist cabals and deities, who before dollar business can be conducted, must be worshipped.

“They are the people sponsoring artificial media, they are the people sponsoring oppositions to come with blackmail and negative propaganda against a president who is very versatile, who is from the private sector, who meant well, who wants to correct the ills of the past.

“The fuel subsidy that has just been removed was benefiting a group of cabals who became very rich overnight to the detriment of Nigerians… We have billionaires who bought private jets and built castles all over the world in the name of subsidy.”

According to him, companies leaving Nigeria were not investors, “they are those who are benefiting from the cabal system.”

“When they tell you they are leaving, they are leaving because they can no longer benefit from foreign exchange disparities, they can no longer benefit from crude oil theft, they can no longer benefit from petroleum subsidy pretending to be importing fuel when they were not importing anything.

“And again it is a blessing in disguise because the more they leave, the more opportunities for indigenous companies to participate,” the chairman of progressive governors added.

He refuted the claim that Tinubu’s economic strategies were ineffective by asserting that the president was actively working towards strengthening the economy and the Naira.

He emphasized that there are bound to be challenges during the initial phase of economic recovery, but the policies implemented will ultimately lead to a stronger Naira.