Fuel subsidy is gone, says Tinubu
President, Bola Tinubu has stated that there will be no more fuel subsidy in Nigeria.
He stated this during his official inauguration speech after his swearing in at the Eagle’s Square, Abuja on Monday.
“The fuel Subsidy is gone. It is unjustifiable…..we shall rechannel the funds to education and healthcare,” he said.
Recall that the Buhari led administration stated that the Tinubu presidency will determine the continuity of fuel subsidy in Nigeria.
In Nigeria’s 2023 budget, the federal government allocated ₦3.6 trillion to pay for fuel subsidies for the first half of 2023.
According to The Cable, this figure shows a huge gap compared to the allocated ₦443 billion subsidy payment for January to June 2022.
