BUHARI LEFT AN EMPTY TREASURY AND MADE NO ALLOCATION FOR THE PETROL SUBSIDY, ACCORDING TO OSOBA

Babatunji Wusu –

Olusegun Osoba, a former governor of Ogun State, has claimed that the Muhammadu Buhari administration did not set aside any funds for a gasoline subsidy.
The leader of the All Progressives Congress (APC) claimed that after wrecking the economy, the previous administration blamed the Bola Tinubu government for the fuel subsidy issue.

This was said by the former governor of Ogun on Tuesday in an interview with Arise News.

According to Osoba, if Tinubu had done anything more but declare an end to gasoline subsidies upon taking office on May 29, 2023, he would have broken the law.

He said: “Yes, there are hardships and problems. We expected it. At the time President Tinubu assumed office, there was not a single allocation for oil subsidy. The previous administration did not allocate a kobo. What else did you expect from the president?

“He had no choice than to announce the removal of subsidy, if not, he would have bridged the law immediately, he was sworn in if he continued with the subsidy.”

Regarding how the fuel subsidy affects the economy, Osoba said that expecting anything different would be foolish.

He added: “Naturally, the multiplication effect of the oil subsidy started immediately. It is common sense. I don’t have to be an economist.

“Cost of transportation shot up by almost 500-1000 per cent. That naturally would affect every aspect of our lives. This I know very well and I am aware. It has affected every area, and there is no segmentation. Both the poor and Rich, even in the private sector.

“Naturally, we don’t expect people to hail the government in every aspect. You will hear, go back home and then rearrange things.”

Speaking further, Osoba stated that because the present administration took over a depleted treasury from its predecessor, it was unable to avoid borrowing even if it wanted to.

Osoba clarified that the Tinubu-led government must participate in the culture for the time being if it is to succeed, even though it does not fully support it.

He said: “When treasury is empty, when the previous administration was borrowing to pay salaries, what else can you do except to borrow for now to fill the gap? That does not mean that the culture of borrowing will go on forever and ever. It’s only serving us for now.”