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Author: Eagletale
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Fuel Subsidy Saga: This Is A Scam of Unprecedented Proportions – Jekwu Ozoemene



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[Image: 8AC66C65-A3C7-4BB0-8CCD-3FA00C88BA34.jpeg]

Experts estimate Nigeria’s daily fuel consumption at 22 million litres a day. Under GEJ we imported 30 million litres a day and the NASS and populace screamed fraud, hence the fuel subsidy scam investigations.

Under PMB, without a radical increase in population, increase in vehicles on the road, increase in manufacturing capacity and in the face of alleged improvement in power supply, Nigeria’s fuel importation magically increased to between 50 million and 60 million litres per day.

Experts have insisted that even if fuel is being smuggled across our borders and we supplied fuel to all our neighboring countries, that it is impossible to consume 50 – 60 million litres of fuel per day.

This is a scam of unprecedented proportions.

For the perpetrators, the beauty of this scam is that the looting is on two fronts:

1 – first is that there is an excess 28 million to 38 million litres of fuel per day which is ostensibly paid for (and goes into private pockets) but which we do not consume.

2 – second is that on this excess 28 million to 38 million litres per day, NNPC still pays subsidy / under recovery, payments which ostensibly end up in private pockets since the underlying fuel importation is a phantom.

Nigeria just dey tire person. These numbers are numbing and mind boggling.