‘There’s no budget allocation’ – Nigerian govt rules out fuel subsidy return amid protests
The Nigerian Government has ruled out the return of fuel subsidies amid the hunger protests.
The Minister of Finance, Wale Edun disclosed this on Tuesday during an interview.
His comment comes amid demand by protesters for the return of fuel subsidies as a solution to the rising cost of living.
However, Edun said fuel subsidy is not in the 2024 national budget.
He stated that there are signs that the country is on the right path economically.
“There is no fuel subsidy in the Budget. That is the truth and the technical fact. We have signs that we are going in the right direction. What we must determine to do is to maintain these trends”, he said.
Recall that President Bola Ahmed Tinubu in his broadcast to Nigerians at the weekend said the decision to remove fuel subsidies was painful but necessary.
However, former President Olusegun Obasanjo in an interview with Financial Times said Nigeria’s fuel subsidy had returned due to inflation.
Recall that President Tinubu removed the fuel subsidy in June 2023 which saw the product increase to over N600 per liter from N238.
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