Bamidele Explains Fuel Subsidy Removal, Accuses Cabal Of Undermining Tinubu’s Government

The Leader of the Senate, Senator Opeyemi Bamidele, has defended President Bola Tinubu’s decision to remove the fuel subsidy, stressing that the key obstacle to governance was not the common man, but a powerful cabal that benefitted from the subsidy.

In a statement issued on Monday by his Directorate of Media and Public Affairs, Bamidele responded to criticism surrounding the subsidy removal, noting that it was a necessary decision for the country’s long-term stability.

He explained that the fuel subsidy was no longer serving the interests of the masses, as it primarily benefitted a select few.

“I am convinced that the president did the right thing by removing the fuel subsidy, for which the 9th National Assembly made provision till May 2023. However, the people who made governance difficult for President Tinubu were those benefiting from fuel subsidies,” Bamidele said.

Naijaonpoint reports that Bamidele pointed out that the real beneficiaries of the fuel subsidy were not the average citizens but a cabal of individuals who had access to the funds.

He further stated that these individuals undermined the administration’s efforts by using the subsidy to perpetuate their interests at the expense of the general public.

Bamidele emphasized that the 9th National Assembly, of which he was a member, had agreed to the removal of the subsidy as it was no longer viable for the country.

He said, “It was not common men and women of this country who were benefiting from the fuel subsidy. It was members of the cabal who had access to the fuel subsidy. They are the ones taking away this privilege all in the name and on behalf of the masses. And the masses did not benefit from it.”

He clarified that the National Assembly had only allocated funds for the subsidy until May 2023, and that its removal was inevitable.

According to Bamidele, regardless of President Tinubu’s announcement, the subsidy would have ended soon after his inauguration due to the lack of funding.

“In the 2023 budget, the National Assembly only made provision for fuel subsidy till May 2023. Whether President Tinubu was removed at his inauguration or not, there was no longer funding for subsidy because we did not make provision for it beyond May 2023,” Bamidele explained.

Shifting Budget Focus: Capital Over Recurrent Expenditure

Bamidele also discussed the 2025 Appropriation Act, noting that the government’s budget priorities were shifting to support economic recovery. He highlighted the government’s increased focus on capital expenditure rather than recurrent spending.

“Compared to the previous fiscal years, the federal government is devoting less to recurrent expenditure while more is being devoted to capital expenditure. That is a major shift from what had been in practice since the return to democracy. It means we are spending less on consumables,” he said.

Bamidele further emphasized the importance of prioritizing critical sectors such as education, health, agriculture, and social welfare, with a particular focus on ensuring that the country’s budget addresses the needs of both national and sub-national governments.

The Senate Leader also praised President Tinubu’s decision to not retrench public workers, despite the severe economic challenges facing the nation. Bamidele warned that such a move would exacerbate the country’s issues, especially regarding security, which had significantly affected agricultural activities.

He stated, “Retrenching workers is not an option before this administration because it will cause more problems. Look at our situation. We are confronted with grave security challenges that nearly erode the gains of the administration, especially in the area of agriculture. This is mainly because people could no longer go to farms.”

Bamidele expressed optimism about improvements in the security situation, acknowledging that the situation remained difficult but was gradually improving, with displaced persons (IDPs) beginning to return home and farmers returning to their farms.

He concluded by urging Nigerians to focus on the long-term benefits of the administration’s policies and efforts to stabilize the economy and ensure sustainable growth. Bamidele reassured the public that despite the current challenges, conditions would improve over time.

“While it is not yet Uhuru, the security situation is fast improving across the federation today. Some of the IDPs are gradually relocating to their base. Farmers are steadily returning to their farms. Altogether, things are improving. I am sure that things will be different very soon,” he said.