A non-governmental organisation (NGO), Pristine Initiative for Social Development (PRISOD), has warned President Bola Ahmed Tinubu that his administration will face serious backlash and confrontation from oil subsidy cartels in the aftermath of his subsidy withdrawal in the country.
The NGO gave the caution in Abuja, saying oil subsidy was a “multi-trillion naira scam whose beneficiaries are well-heeled, rich and powerful”.
In a statement by its Executive Director (Strategic Communication), Aare Fola Arogundade, PRISOD noted that over N7 trillion was spent on petroleum subsidy in 2022 alone and N3.6 trillion earmarked for first half of this year.
“We now know that over half of these sums went into private pockets. So, we’re talking about people who have got stupendously rich on this racket and who will not cave in easily to being denied this filthy lucre.
“Any group of persons who have illicitly amassed such wealth would of course have a huge war chest ready to deploy to protect its interests, even at the cost of human lives,” the NGO said.
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PRISOD said it is not unlikely that such persons have primed foot soldiers ready for battle at short notice.
“Vice President Kashim Shettima already described them as ‘powerful and ruthless’. So, the Tinubu administration is apparently aware of their capabilities and should be ready to face them, fire for fire.
“We know that their strategy would include making the country ungovernable for this administration by way of civil unrest and other forms of public disorder. President Tinubu should be ready to instantly crush such tendencies,” it added.
The NGO praised President Tinubu for his courage in taking the step that many of his predecessors had shied away from and urged him to faithfully implement programmes that would mitigate the short-term effects of the subsidy withdrawal.