No More Fuel Subsidy; Nigeria’s New President Announces
Nigeria’s new president, Bola Ahmed Tinubu, on Monday, announced that the fuel subsidy has been removed. The new president, shortly after he took the oath of office, said the budget he has glimpsed shows there is no provision for the fuel subsidy saying that subsidy is gone.
“Subsidy can no longer justify the ever-increasing cost in the wake of drying resources. We shall instead, re-channel whatever for better use.”
He said areas, where such resources would be channelled, include education, agriculture and the provision of critical infrastructures.
