Former Governor of Kwara state, and senator representing Kwara central Bukola Saraki said that Nigeria is losing $2billion every year to oil subsidy scam,he alleged that the subsidy scam is permitted to grow by the current government, He urge the incoming government of Buhari to remove the subsidy.
He said the subsidy was not a problem but the poor Management which has lead to huge racketeering in the Industry,blaming the government for issuing import licenses to a bogus number of 82 companies and used by oil Marketers to rip off the Federal treasury
He said: “No matter what is happening now, if you go back to look at it, the major issue that dwindled us was the subsidy management. We are talking of about minimum of over $32 billion wasted on it over the last five to six years.
“That is the difference between where we are now and that time. It has impacted on our exchange rate, it is going to impact on our infrastructure, there is no money for capital budget.
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