Sanusi insists fuel subsidy was scam

The emir of Kano, Muhammad Sanusi II has revealed that the payment of fuel subsidy was an opportunity to enrich some people at the expense of the country.
Sanusi who served as governor of the Central Bank of Nigeria during the administration of Goodluck Jonathan revealed that the whole fuel subsidy payment was a scam as it was presented to favour the poor when actually it was enriching some people.Emir of Kano acquires Rolls Royce Phantom
The Punch reports that the emir said this while delivering a lecture on the Deregulation of the Downstream Oil Sector and Nigeria’s Economic Development at the National Defence College in Abuja on Wednesday, August 3.
Sanusi said the country was losing 20 million Dollars for every 30,000 metric tons of kerosene imported into the country.
President Buhari and Emir Sanusi during the president’s visit to the traditional ruler last year

He said: “The whole issue of fuel subsidy was set up to create opportunity for a few people to make money, and it was presented in a manner that convinced everybody it was for the poor.”
He also commented on the administration of President Muhammadu Buhari and said it was suffering from bad policies taken in the past. Emir Sanusi of Kano takes on Fashola
He blamed previous administration for failing to take good decision which later backfired and is now affecting the country.
He said: “Nigeria is bankrupt; we are bankrupted by a policy that was foolish, that was unrealistic, and unsustainable and by all means our refusal over the years to listen.
“We are surprised that we have an economic recession; we are actually surprised that we are in recession? We created the recession.
It will be recalled that President Muhammadu Buhari removed fuel subsidy although the move was criticised by Nigerians and resulted in strike action in some parts of the country.

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