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Reading: Bola Ahmed Tinubu Abolishes Fuel Subsidy, Declares It 'Gone'
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Nigeria

Bola Ahmed Tinubu Abolishes Fuel Subsidy, Declares It 'Gone'

In his inaugural address at the Eagle Square in Abuja,newly sworn-in President Bola Ahmed Tinubu made a significant announcement, declaring ...

Chima Joseph Ugo
Chima Joseph Ugo - Editor-in-chief May 29, 2023
Updated May 29, 2023 at 12:55 PM
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Bola Ahmed Tinubu Abolishes Fuel Subsidy, Declares It 'Gone'
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"Bola Ahmed Tinubu Abolishes Fuel Subsidy, Declares It 'Gone'"
In his inaugural address at the Eagle Square in Abuja,newly sworn-in President Bola Ahmed Tinubu made a significant announcement, declaring the abolition of fuel subsidy in Nigeria. According to Tinubu, the subsidy is no longer sustainable, and he emphasised this point during his address to the Nigerian people.

During his speech, Tinubu mentioned that the budget he inherited upon assuming office and the information he received indicated that there is no allocation for fuel subsidy. With a straightforward statement, he confirmed the end of fuel subsidy, stating, "Fuel subsidy is gone."

Further details regarding the specifics of this decision are expected to be released in due course. The abolition of fuel subsidy marks a significant shift in the country's economic policy, and its impact on various sectors and the general public will be closely observed.

Tags: Nigeria, Politics

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