A former aide to ex-Vice President Namadi Sambo, Umar Sani, has accused billionaire businessman Femi Otedola of hypocrisy in his recent comments on Nigeria’s fuel subsidy regime.
Otedola, in a statement revisiting the controversial subsidy program, alleged that corruption was deeply entrenched in the system, claiming that over ₦2 trillion was siphoned through questionable subsidy claims during the administration of former President Goodluck Jonathan.
Reacting via his 𝕏 account, Sani described Otedola’s claims as an attempt to rewrite history, stressing that the subsidy regime “predates Jonathan and lasted decades.”
“It was entrenched under Obasanjo, continued under Yar’Adua, remained during Jonathan’s time, and persisted under Buhari with even greater opacity. To lay the blame solely on Jonathan is misleading, especially as Otedola himself enjoyed enormous privileges during the era,” Sani wrote.
Sani alleged that Otedola’s company, Zenon Petroleum and Gas Ltd, once controlled up to 90% of diesel imports and benefitted massively from the same subsidy framework he now condemns.
He reminded Nigerians that Jonathan had constituted the Aigboje Aig-Imoukhuede forensic audit panel to expose subsidy exploiters, but attempts at deregulation were sabotaged by vested interests, politicians, and profiteers.
“Otedola himself was spotlighted during the forensic panel’s work and the House of Reps ad-hoc committee on subsidy payments, chaired by Farouk Lawan,” Sani noted.
He also referenced the infamous Otedola–Lawan scandal, where the businessman admitted handing over marked money to the lawmaker, later describing it as a sting operation.
Sani argued that Otedola’s present criticism sounded less like genuine truth-telling and more like “image laundering.”
“Rather than feigning moral superiority, Otedola should come clean. Nigerians deserve honesty, full disclosure, and historical accuracy. Until then, his accusations amount to nothing more than a pot calling the kettle black,” he added.
Sani urged Otedola to support a full independent probe into the subsidy regime across all administrations — including the periods when he allegedly profited — instead of offering what he called “curated narratives.”
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