EXCLUSIVE: Cabal of Fuel Marketers in last minute move to bribe unions with billions to scuttle subsidy removal.

EXCLUSIVE: CABAL OF MARKETERS IN LAST MINUTE MOVE TO BRIBE UNIONS WITH BILLIONS TO SCUTTLE SUBSIDY REMOVAL.

In a bid to force the new administration to step down its plans to remove total subsidy on fuel consumption, reports have emerged on how some notorious cabal of marketers met with leaders of labor unions to cause unrest that will hitherto lead to scuttling of the removal process.

It will be recalled that President Bola Ahmed Tinubu made it clear during his acceptance speech, on the 29th of May, that no provision was made for subsidy payment for the second half of 2023’s budget and as such “Subsidy is gone”.

Also, as a topic that dominated the campaign before the general elections, majority of the candidates agreed that fuel subsidy is an albatross that needs to be removed from the Nigerian system if the economy was to be healed .

Several reactions have, however, trailed the decision owing to the trickle down effect, especially on marketers who benefit from the multibillion dollar scheme.

Podium reporters have gathered that during the week, some cabal among the marketers who are afraid of being put out of business, with the removal, have met with labor union leaders across the country to stampede the efforts in a deal that will see them exchange billions of dollars to kickstart a fight against the government.

The meeting, according to our source was held last Wednesday in Abuja, with many of the oil scam cabal present promising to “sacrifice anything required” to make sure the labor leaders succeed in their quest to ensure the payment of subsidy remains sacrosanct.

“They are jittery and are ready to go all the way to ensure the new president does not succeed with the removal plans.”

“Their believe is that they will be out of business and like they have done at every former attempt to get rid of the subsidy, they will rather sacrifice a few billions to labor leaders and some NGOs to start protests that will threaten the federal government and maybe, force them to step down their plans” said our source.

Over 7 trillion naira goes into the fuel subsidy scheme annually with less than 200 marketers benefiting from what has now become an albatross on the neck of Nigeria’s economy.

Many experts have argued that the only way to kickstart true economic development in Nigeria is for the federal government to get its hands off payment of subsidy by deregulating the sector totally in a move that will save the nation about $15bn.

Healthcare, education, transportation and  job creation are some of the investments which the government will be looking at when it finally gets rid of what some have referred to as an “economic cancer”.

It should also be noted that the new administration under the leadership of Asiwaju Bola Ahmed Tinubu has promised to get rid of the multiple exchange rate in another move that will save the government around $20bn.

This is in a bid to urgently revive the revenue structure of the country and harness the same to ensure a better standard of living for Nigerians within a short period of time.

Meanwhile, President Bola Tinubu has promised to revisit the minimum wage being paid to workers in the country. He gave this assurance when he met with the Progressive Governors Forum yesterday in the villa in what he described as a “soul searching” approach.

The president encouraged the governors to work together with him to ensure that the revenue game of the country is improved upon in order to better the lives of all Nigerians as soon as possible.