Umar Sani Defends Otedola, Challenges ‘Subsidy Billionaires’ to Prove Legitimate Wealth DDM News
(DDM) – The debate over Nigeria’s controversial fuel subsidy regime has taken a new twist after Umar Sani, a former Special Adviser on Media to ex-Vice President Namadi Sambo, publicly defended billionaire businessman Femi Otedola against allegations of fraudulent enrichment.
Diaspora Digital Media (DDM) gathered that Sani, speaking during an interview with Voice of the People TV, reacted to Otedola’s recent claims that over N2 trillion was siphoned through fuel subsidy under the Goodluck Jonathan administration.
Sani insisted that while Otedola benefited from the fuel business, his wealth was earned legitimately, unlike other players in the oil sector who allegedly used the system for illicit gain.
According to him, Otedola’s company had clear operational structures, visible supply chains, and a dominant role in diesel retailing at the time.
“So if the man says Femi Otedola benefited, yes, but not fraudulently because he has a holding company,” Sani said.
He stressed that Otedola controlled nearly 90 percent of Nigeria’s diesel trade through recognized operations.
“We saw him supplying diesel. We saw him retailing diesel,” Sani added.
However, the former presidential aide drew a sharp contrast between Otedola and what he described as “overnight billionaires” who emerged from subsidy loopholes without tangible business structures.
He threw a direct challenge at them, urging those who amassed sudden wealth through subsidy dealings to prove their legitimacy by pointing to their physical outlets or records of operations.
“Pick some of these people that are known figures today, sudden billionaires. Let them show us their outlets,” he said.
The remarks come at a time when Nigeria continues to grapple with the economic and political fallout of its fuel subsidy history.
For decades, the subsidy program was designed to keep fuel prices low for citizens.
But investigations revealed that billions of dollars were lost annually to corruption, inflated importation claims, and payments for products never supplied.
Otedola’s name has often surfaced in discussions about the subsidy era, with critics questioning the source of his fortune.
Sani’s intervention appears aimed at separating legitimate business operators from rent-seekers who exploited loopholes.
Analysts note that his comments may reignite scrutiny of wealthy individuals linked to the oil industry who rose to prominence during the subsidy years.
The controversy underscores broader concerns about transparency and accountability in Nigeria’s oil sector, particularly as the government under President Bola Tinubu has moved to eliminate fuel subsidy entirely.
Observers say the renewed debate could push anti-graft agencies to revisit unresolved subsidy cases and demand explanations from past beneficiaries.
For ordinary Nigerians, the saga serves as a reminder of how corruption in the subsidy system drained national resources while leaving citizens with poor infrastructure, rising poverty, and recurring fuel shortages.
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