Ahead of the next general elections, former Bauchi Governor, Mallam Isa Yuguda, has advised Nigerians to be discerning and examine critically economic proposals being canvassed by politicians.
Yuguda raised the alarm on Tuesday in his opening remarks at the policy roundtable organised by the APC Professional Forum.
The former Aviation Minister picked holes in the declaration by the Presidential candidate of the African Democratic Congress, Atiku Abubakar, to return the fuel subsidy regime scrapped by the present administration.
Yuguda, who incidentally was the Chairman of the 2009 Fuel Subsidy Task Force, recalled that the subsidy regime was a drain on public finances.
He maintained that a return to subsidy would “reverse the fiscal space now supporting critical national investments.”
He said: “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.
“The subsidy system had become inefficient and consumed enormous public resources that could have been invested in education, security, agriculture, healthcare, infrastructure, and other productive sectors.
Its removal was therefore a difficult but necessary reform intended to redirect national resources towards long-term development.
“President Tinubu demonstrated the political courage to implement a reform that previous administrations had acknowledged as necessary but could not fully execute.
As we approach the 2027 election, Nigerians must carefully evaluate political promises, particularly those relating to the return of fuel subsidy.
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.
The old subsidy regime was associated with massive leakages, fraudulent claims, inefficiency, and a significant drain on public finances.
“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.
“Every Nigerian has the democratic right to present alternative policies, but economic choices must be guided by facts, experience, sustainability, and the long-term interest of the country.
“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.”
On the objective of the Roundtable, Yuguda said, “It is a forum for evidence-based assessment, constructive criticism, and policy conversation between decision makers, professionals, and Nigerians. The APC Professionals Forum remains committed to serving as a credible think tank that connects expertise, ideas, leadership, and the people for the progress and prosperity of Nigeria.“
