Home » Imo State Governor, Hope Uzodimma, Exposes Fuel Subsidy Beneficiaries and Forex Disparities Under Former President Buhari

Imo State Governor, Hope Uzodimma, Exposes Fuel Subsidy Beneficiaries and Forex Disparities Under Former President Buhari


In a recent revelation, Governor Hope Uzodimma of Imo State has disclosed the beneficiaries of fuel subsidy and highlighted differences in foreign exchange under the administration of former President Muhammadu Buhari. Speaking on Channels Television’s Sunday Politics, Governor Uzodimma attributed certain socioeconomic challenges in the country to what he described as “cabals” and “deities” influencing key economic decisions.

According to the governor, certain individuals and entities, described as “cabals and deities,” were the primary beneficiaries of events preceding the suspension of President Bola Tinubu. Uzodimma claimed that Tinubu’s actions, such as eliminating gas subsidy and unifying foreign currency windows, were crucial steps towards achieving prosperity and dismantling the influence of these groups.

He asserted, “I tell you, in my findings and understanding of the country, there exist cabals and deities, who before dollar business can be conducted, must be worshipped.” Uzodimma went on to blame these entities for the country’s troubles, suggesting that their influence extended to media manipulation and opposition sponsorship.

The governor specifically criticized the fuel subsidy, stating, “The fuel subsidy that has just been removed was benefiting a group of cabals who became very rich overnight to the detriment of Nigerians… We have billionaires who bought private jets and built castles all over the world in the name of subsidy.”

Uzodimma also addressed the departure of certain companies from Nigeria, asserting that they were not genuine investors but entities benefiting from the alleged cabal system. He claimed that their exit was tied to their inability to continue profiting from foreign exchange disparities, crude oil theft, and petroleum subsidy.

Despite criticisms of President Tinubu’s economic strategies, Governor Uzodimma defended the president’s efforts, emphasizing that he was actively working to strengthen the economy and the Naira. While acknowledging initial challenges in the economic recovery phase, Uzodimma expressed confidence that the implemented policies would lead to a more robust national currency.

The governor’s revelations shed light on the complex dynamics surrounding key economic decisions in Nigeria and the potential impact on the nation’s economic landscape.

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