Nigeria Oil Chief Spills Beans on Cabal Gaining Most from Subsidy

The Nigerian National Petroleum Corporation's Chief Mallam Kyari has said that the ordinary people of Nigeria did not see the benefit of the government subsidising the country's fuel price. Instead, he said "some members of a market cabal, who are rich and powerful, were enriching themselves with the subsidy money to the detriment of the masses who were the primary target". The fuel subsidy has been a hotly debated issue in Nigeria and most recently was removed by President Muhammadu Buhari. Kyari added that the plan was for the government to fund projects that will directly impact on the lives of the masses. Time will tell whether this will soothe public opposition to the government's move to stop the subsidy, which comes at a time when Nigeria is facing economic challenges and various threats of strikes by labour and other sectors.


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