Bola Ahmed Tinubu, the recently elected president of Nigeria, has declared that the payment of fuel subsidies will end under his watch.
This was stated by Tinubu in his inauguration speech at the presidential inauguration on May 29 in Eagles Square, Abuja.
The Nigerian Tribune said that Tinubu claimed to be well aware of the withdrawal of the fuel subsidy in the 2023 budget, which was already in place before his administration assumed office.
Speaking further, the president remarked that in light of depleting resources, the subsidy can no longer be used to justify its ever-rising expenses.
“We shall instead re-channel the funds into better investment in public infrastructure, education, healthcare and jobs that will materially improve the lives of millions,”
Tinubu stated.