Bakare Demands Prosecution of Subsidy Cabals | Independent Newspapers Limited
Newsletter subscribe


Bakare Demands Prosecution of Subsidy Cabals

Posted: May 23, 2016 at 3:30 am   /   by   /   comments (0)

Olamide Bakare

Lagos -The Serving Overseer of Latter Rain Assembly, Pastor Tunde Bakare has called for the prosecution of individuals and firms involved in the subsidy scam which led to a widespread protest across the country in 2012.

He made this call while speaking on the increase in price of Premium Motor Spirit (PMS) otherwise known as petrol from N86.50 to N145. Bakare who had earlier in 2012 led a protest against the decision of Federal Government to increase the price has received a barrage of criticism over his continued silence especially against the backdrop of labour planned strike action.

Addressing the nation on the matter at the church auditorium, Bakare said having done due consultation with stakeholders particularly those who were part of the struggle in 2012, he is of the belief that the circumstances that led to the 2012 protest should not compared with current situation, stressing that the economy is now in dire straits which needs to rescued.

According to him, the state in which the economy is in at the moment calls for decisive action that would end a scheme which encourages corruption especially in the face of dwindling resources, fall in crude oil price at the international market and weakness of Nigerian currency Bakare who admitted that he was aware of excruciating suffering the citizens are going through stated that it has become much necessary for government to end subsidy payments which were occasioned by years of maladministration.

Giving a breakdown of how much has been expended on subsidy payments between 2006 and 2016 and the pervasive corruption in the scheme, Bakare said it was obvious government needed to act fast to end it by taking steps that would assist it in channeling the little resources into developmental projects.

The pastor who however corrected insinuations held in some quarters that the 2012 fuel protest was politically motivated stated that at no time did he receive any form of financial support noting that the action was purely to stand against maladministration and corruption which characterized previous governments.

He said “In 2006,government allocated N155.9billion for subsidy,2007,the amount was N188billion.Between January and July 2008,subsidy payment totaled 256.3billion while in 2009,it was lmost twice the amount allocated for January to July of previous year. In 2010, there was a sharp increase as the amount rose from N415b to N673b.The interesting thing is that the payment was made on the basis of the same consumption”.

“More curious is the fact that the amount allocated for subsidy in 2011 which was more than N1.3trillion and later revised to 2.19trillion tripled what was allocated in previous year especially with respect to the fact that it was an election year” he said.