Femi Otedola Breaks Silence: Exposes Real Truth Behind Nigeria’s Subsidy Fraud Allegations

Nigerian billionaire businessman and philanthropist, Femi Otedola, has strongly debunked fresh allegations linking him to the controversial fuel subsidy fraud, calling them false, malicious, and an attempt to rewrite history.

In a strongly worded response, Otedola addressed claims made by Umar Sani, former Special Adviser on Media to ex-Vice President Namadi Sambo, who recently attempted to drag his name into the subsidy scandal.

Femi Otedola and Aliko Dangote at the Dangote Refinery

Zenon Petroleum Never Claimed Subsidy

Otedola clarified that Zenon Petroleum and Gas Limited, his company, was strictly a diesel importer and distributor, commanding over 90% of the market share at its peak. He stressed that diesel had already been deregulated before the introduction of the Petroleum Subsidy Fund (PSF) scheme, and thus was never eligible for subsidy claims.

“If diesel was not covered under the subsidy regime, how then can Zenon be accused of subsidy impropriety?” Otedola asked, describing Umar Sani’s claims as either mischievous or a gross display of ignorance.

Whistleblower, Not Beneficiary

Far from being complicit, Otedola revealed that he was in fact the first whistleblower to alert then-President Goodluck Jonathan about the massive fraud being carried out by subsidy racketeers. He also disclosed that he informed Senator Bukola Saraki, who brought the issue before the Senate, eventually triggering investigations in the House of Representatives.

“If I was complicit in subsidy theft, would I be the one to blow the whistle on myself?” he queried.

The Farouk Lawan Sting Operation

Otedola revisited the infamous Farouk Lawan bribery scandal, stating that when corruption fought back, the extortion attempts by the House probe panel became unbearable. He then collaborated with the Department of State Security (DSS) in a sting operation, where marked money was handed to Lawan under surveillance.

Lawan was later convicted and sentenced to five years imprisonment for bribery—proof, Otedola says, that the attempt to twist events against him is nothing more than ignorance and mischief.

Call for Transparency: Aigboje Aig-Imoukhuede Report

Finally, Otedola urged President Bola Ahmed Tinubu to make public the Aigboje Aig-Imoukhuede report on subsidy fraud. According to him, Nigerians deserve to know the truth about those who truly bled the nation through the subsidy regime.

“Let the report be released so the real subsidy thieves can be unmasked,” Otedola declared

Written by Boom RadioNG