Atiku’s Fuel Subsidy Plan: Yuguda Reveals What He Discovered In 2009

Former Bauchi State Governor, Isa Yuguda, has revealed that during his time as chairman of the Federal Government’s Fuel Subsidy Task Force in 2009, he saw firsthand how the subsidy system was draining Nigeria’s finances.

Yuguda said the committee he led uncovered what he described as serious irregularities, fraudulent practices and financial leakages in the system.

The former Aviation Minister brought up his experience on Tuesday while speaking at a policy roundtable organized by the APC Professionals Forum, Naija News reports.

He used the occasion to caution Nigerians ahead of the 2027 general elections, urging them to look beyond attractive campaign promises and carefully examine the economic policies being presented by politicians.

Yuguda was particularly critical of the proposal by the African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, to bring back the fuel subsidy regime which was removed by the present administration.

According to Yuguda, restoring the old system without addressing the problems that made it expensive and difficult to manage could put the country’s finances under fresh pressure.

“As Chairman of the Fuel Subsidy Task Force in 2009, I led a committee that examined the subsidy regime and uncovered serious irregularities, fraudulent practices, and financial leakages that placed a huge burden on the Nigerian economy,” he said.

Yuguda said the subsidy system had become inefficient and was taking away huge amounts of public money that could have been spent on education, security, agriculture, healthcare and infrastructure.

He described the removal of the subsidy as a difficult but necessary reform aimed at redirecting government resources towards areas capable of improving the country’s long-term development.

The former governor also commended President Bola Tinubu for having the political courage to implement the reform.

He said previous administrations had recognized the need to remove the subsidy but were unable to fully carry out the reform.

“President Tinubu demonstrated the political courage to implement a reform that previous administrations had acknowledged as necessary but could not fully execute,” Yuguda said.

‘Atiku’s Proposal Might Sound Attractive, But…’ – Yuguda Warns Nigerians

With the 2027 election approaching, Yuguda urged voters to carefully examine promises being made by politicians, especially those concerning fuel subsidy.

He said Atiku’s proposal might sound attractive to Nigerians struggling with the high cost of living, but warned that the country’s past experience with subsidy should not be ignored.

“The proposal by former Vice President Alhaji Atiku Abubakar to restore subsidy may appear attractive to citizens seeking immediate relief, but it must be examined against our national experience,” he said.

Yuguda maintained that the former subsidy arrangement was linked to leakages, fraudulent claims and inefficiency, resulting in a huge drain on government finances.

The former Governor warned that bringing back the system without first dealing with those problems could wipe out some of the financial space created by the current reforms.

“Presenting a return to that system without clearly addressing these problems risks misleading Nigerians for short-term political gain and could reverse the fiscal space now supporting critical national investments,” he said.

However, Yuguda acknowledged that every politician has the right to propose alternative policies, stressing that economic decisions should be based on facts, experience and what is sustainable for the country.

He said Nigerians deserved an honest discussion about what the subsidy regime actually cost the country and what could be achieved if such funds were channelled into sectors that directly affect citizens.

“Having chaired the 2009 Fuel Subsidy Task Force and witnessed the weaknesses of that system firsthand, I believe Nigerians deserve an honest conversation about what subsidy truly cost the nation and what can now be achieved when those resources are directed towards education, security, agriculture, infrastructure, and other areas that improve citizens’ lives,” he said.

Speaking on the purpose of the policy roundtable, Yuguda said the forum was created to encourage discussions based on facts and allow professionals, policymakers and members of the public to examine issues affecting the country.

He said the APC Professionals Forum would continue to serve as a think tank that brings together expertise, ideas and leadership in the interest of national development.

“It is a forum for evidence-based assessment, constructive criticism, and policy conversation between decision makers, professionals, and Nigerians,” Yuguda said.

He added that the forum remained committed to connecting professionals and policymakers with Nigerians in the search for solutions that would promote the country’s progress and prosperity.