He said government's removal of the corrupt petroleum subsidy in January was responsible for the refusal of the marketers to import fuel.
According to Olatunbosun, who is a member of House Committee on Appropriation, the resultant hardship foisted on the country was meant to arm-twist the government into agreeing to their terms which may be inimical to the interest of Nigerians.
Reacting to comments on President Muhammadu Buhari’s economic policy during the weekend in Abuja, the Honourable Member said the implementation of the Single Treasury Account (TSA) was the best to have happened to the Nigerian economy.
He said: “In January, fuel subsidy was removed but there is a gang up to sabotage this government by some elements. The Nigerian National Petroleum Corporation ( NNPC ) was to import 50 percent of our fuel consumption while the balance was to be given to independent marketers that have refused to supply the fuel.
“In the past, they were importing it but this stopped suddenly. My understanding is that the stoppage of patronage they were getting from subsidy, which was a monumental fraud was the cause.
“It means they were never in that business because they loved Nigeria and Nigerians in the first place, they were doing it solely for the ill-gotten wealth they get from the undue advantage they get through the subsidy but because there is no more free fund to get from the subsidy, they stopped importing the product.
“Unfortunately, that was not communicated to Nigerians. I think there is a need to go back to the 2012 report of the House probe on the subsidy, those indicted should be prosecuted.
“That forex scarcity was responsible for their inability to bring in fuel is a diversionary excuse because fuel importation is prioritised since it affects the economy directly”.
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