Oando's Wale Tinubu sets record straight on fuel subsidy issue - Full Video 2

"It's a bit of a misnomer for us to use the expression "benefited" from the PSF scheme... We don't benefit from the scheme, the Nigerian public benefits from the scheme... We simply make a claim...we bring in a cargo for $30m and sell at the pump for the equivalent of $15m, we simply make a claim to the government for the differential pursuant to a law that exists. We do not benefit from the scheme... the money belongs to our Nigerian shareholders and Nigerian banks..."

- Wale Tinubu, CEO Oando PLC

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Education

Tags:

• wale tinubu
• cabal
• petrol subsidy
• subsidy removal
• subsidy nigeria
• oando