FUEL SUBSIDY IS GONE- PRESIDENT TINUBU
FUEL SUBSIDY IS GONE- PRESIDENT TINUBU President Bola Tinubu has declared that his administration will remove the subsidy on Petroleum products, noting that the era of subsidy payment on fuel has ended. The President said this in his inaugural speech at the Eagle Square on Monday after he was sworn in as Nigeria’s 16th President. “On fuel subsidy, unfortunately, the budget that exist before I assumed office and what I have heard is that no provision is there for fuel subsidy, so Fuel subsidy is gone”, he stated. According to the President, the savings from the subsidy removal would be used to invest in infrastructure, education, health, and social welfare. He also assured Nigerians that he would ensure an adequate supply of petrol and prevent artificial scarcity and hoarding by unscrupulous elements. Speaking further, he said “In economy, we’ll target not less than 6 per cent growth in GDP growth. We’ll do this through budgetary reforms. We’ll use a full range of domestic manufacturing...