Bamidele Breaks Silence On Fuel Subsidy Removal, Blames Powerful Cabal For Undermining Tinubu’s Government

In a statement released by his Directorate of Media and Public Affairs on Monday, Bamidele addressed criticism surrounding the subsidy removal, asserting that it was a necessary step for the country’s long-term economic stability. He argued that the subsidy had ceased to benefit the masses and instead enriched a privileged few.

“I firmly believe President Tinubu made the right decision in removing the fuel subsidy, which the 9th National Assembly had allocated funds for only until May 2023. However, the real obstacles to governance were those who profited from the subsidy,” Bamidele stated.

He highlighted that the primary beneficiaries of the fuel subsidy were not the general public but an elite group with access to the funds. According to him, these individuals actively undermined the administration’s efforts by using the subsidy system to serve their own interests at the expense of the nation.

Bamidele stressed that the 9th National Assembly, of which he was a member, had acknowledged the subsidy’s unsustainability and, therefore, only made financial provisions until May 2023. He clarified that the removal was inevitable, as there were no further budgetary allocations beyond that period.

“In the 2023 budget, the National Assembly only approved funds for the fuel subsidy until May 2023. Whether President Tinubu removed it at his inauguration or not, there was no funding left to sustain it,” he explained.

Prioritizing Capital Expenditure Over Recurrent Spending

Bamidele also discussed the 2025 Appropriation Act, noting a strategic shift in the federal budget towards economic recovery. He pointed out that the government is now focusing more on capital projects rather than recurrent expenditure.

“Unlike previous years, the federal government is allocating less to recurrent expenses and more to capital investment. This marks a significant shift from past practices since the return to democracy. We are reducing spending on consumables and focusing on productive investments,” he noted.

He emphasized the government’s prioritization of key sectors, including education, healthcare, agriculture, and social welfare, to ensure that both national and sub-national governments benefit.

Commitment to Job Security Amid Economic Challenges

The Senate Leader praised President Tinubu’s decision to avoid mass retrenchment of public workers despite economic difficulties, warning that job cuts would only exacerbate the country’s challenges, particularly in security and food production.

“Retrenching workers is not an option for this administration because it would create more problems. The country is already facing significant security challenges that have hindered agricultural activities. If farmers cannot go to their farms, the situation will worsen,” he cautioned.

Bamidele expressed optimism about the improving security landscape, acknowledging that while challenges remain, displaced persons (IDPs) are gradually returning home, and farmers are resuming agricultural activities.

“Although we are not entirely out of the woods, security is improving nationwide. Some IDPs are returning home, and farmers are regaining access to their land. Gradually, conditions are changing for the better,” he concluded, urging Nigerians to remain patient and trust in the administration’s long-term economic vision.