Rufai Oseni: Crony Capitalists Benefit Most from Subsidies

Rufai Oseni, an anchor on Arise Television, claimed during an episode of the ‘Morning Show’ that the primary beneficiaries of fuel subsidies in Nigeria are crony capitalists who possess significant infrastructure and contracts, rather than the general populace. He argued that fuel subsidies could still exist without causing long queues at petrol stations, citing that local oil production through the Dangote Refinery can mitigate shortages regardless of the subsidy situation.

Oseni pointed out that the previous long queues were primarily due to import logistics, which are no longer a concern with local production. He emphasized that even during the subsidy period, there were no long queues because production was nearby, specifically referencing Dangote's capacity.

He concluded that the argument against subsidies based on the fear of long queues is flawed, asserting that crony capitalists are the biggest beneficiaries of the subsidy system.