Despite the formal end of fuel subsidy under President Bola Tinubu’s administration in 2023, the deep scars of its abuse continue to surface—this time through a groundbreaking exposé by former EFCC chairman Abdulrasheed Bawa.
In a newly released book titled “The Shadow of Loot & Losses: Uncovering Nigeria’s Petroleum Subsidy Fraud,”Bawa unveils how corrupt officials and private fuel importers colluded to siphon trillions of naira under the guise of subsidy payments.
Published by CableBooks, the book is being described as the most authoritative account yet on the multi-trillion-naira subsidy scam that plagued Nigeria for years.
Drawing from his role as a lead investigator on the EFCC’s special task force that probed the 2012 fuel subsidy scandal, Bawa offers a rare insider perspective on how the fraud was executed, the mechanisms of deceit, and the powerful actors involved.
“Bawa reveals the staggering scale, complexity, and audacity of the schemes used to siphon public funds,” the publishers said in a statement on Tuesday.
The book details how billions were recovered, some perpetrators prosecuted, and why entrenched corruption allowed the fraud to flourish across successive administrations.
With Nigeria still reeling from the economic effects of the subsidy era, Bawa’s revelations provide a stark reminder of the cost of unchecked corruption—and a warning for the future.
