Saraki Raises Alarm Over Alleged Fraudulent Activities of Fuel Subsidy Cabal
Senate President Bukola Saraki, has raised alarm over the alleged fraudulent activities of fuel subsidy cabal.
Saraki said this at the inauguration of an investigative hearing on subsidy payment by the Nigeria National Petroleum Corporation (NNPC).
According to him, the fuel subsidy scheme which designed for the benefit of poor Nigerians has become a cash cow for few people who continued to milk the country dry in trillions of naira.
The Senate President noted that that the Federal Government has failed to curb fraudulent practices associated with the fuel subsidy regime.
His words: “For years, our country has been plagued with the issue of fuel subsidy and for too long, a scheme designed to reduce the burden on the poor has become the cash cow of a few who continue to milk the country dry in trillions under a process so opaque and insulated from public scrutiny called fuel subsidy.
“You would recall that it was only after my motion on the 5th of March 2012, with the support of my colleagues in the 7th Senate and after a thorough review and investigation of the scheme we unearthed the monumental fraud bigger than our capital budget for a year going on in the name of fuel subsidy. Five years down the line we are back on the same matter. This is not acceptable and we are determined to get to the bottom of it.”