By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Fuel subsidy not favourable to the masses, I will stop it — Tinubu
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Politics

Fuel subsidy not favourable to the masses, I will stop it — Tinubu

Adamu Abubakar
By Adamu Abubakar
Published: January 3, 2023
Share
3 Min Read
Asiwaju Bola Tinubu
Asiwaju Bola Tinubu
SHARE

Presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Tinubu has insisted fuel subsidy regime must end if elected president next month.

Tinubu made this assertion in a brief interview with Freedom Radio during his visit to Saudi Arabia for Umrah (Lesser Hajj).

Tinubu, a former Lagos State governor, argued that subsidy payments were most beneficial to the rich and, therefore, ought to be stopped.

He said, “I will ensure we end the wastage and re-channel the money to the people who truly need it.”

- Advertisement -

The APC standard bearer had earlier disclosed his plan to scrap subsidy being paid on Premium Motor Spirit (PMS) while unveiling his 82-page manifesto tagged “Renewed Hope 2023 – Action Plan for a better Nigeria.”

He said during the ceremony that the oil sector has been caged by “subsidy” and therefore, must be “unbundled.”

Speaking at an interactive session with captains of industry tagged: “Business Forward” in Lagos, Tinubu rejected oil subsidy payments, saying, “The era when petrol subsidy was fashionable is gone.

He said, “The Petroleum Act is there for us to take a second look at to meet our obligations and no matter how much or long the protest, we will remove petrol subsidy. We will take tough decisions, but it will be done, and that is the truth. The era when fuel subsidy was fashionable is gone. So, it must be removed.

- Advertisement -

“We can invest the money wisely, for instance in health, as some of you have said. No matter how long you protest, we will remove the subsidy. We can do it. We are educated enough. How can we subsidise the fuel consumption of Cameroon, Niger, Benin Republic, and some others?”

“Other economies are already building charged stations, but we are yet to generate electricity to even roast plantain. Electricity is the most important discovery for humanity in the last 1,000 years and so, we must have electricity whichever way and by all means possible. I can also promise you will not pay for estimated billing. We will talk and walk our talk.

The Federal Government is reported to have spent N1.9 trillion on subsidy between January and July 2022.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
Previous Article Adesola Adeduntan 2023: FirstBank CEO Adeduntan Welcomes Customers to New Year with Letter of Commitment
Next Article Kano uncovers 130 hospitals and pharmacies operated by quacks

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 5 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Pastor Adeboye
Pastor Adeboye Shares Divine Directive: Leaving RCCG Could Lead to Tragic Loss
News
Anglican Bishop of Lafia Calls on President Tinubu to Address Root Causes of Nigeria’s Insecurity and Economic Woes
News
Egbe Bobakeye Okunrin Akile Ijebu Refutes False Claims About Queen Elizabeth II’s 1956 Visit
News
NRC Managing Director Warns Against Railway Vandalism: “We Don’t Have Scraps, We Have National Assets”
News
Tragic Head-On Collision in Jigawa Claims Nine Lives, Dozens Injured
News
- Advertisement -
Ad imageAd image

You May Also Like

Sport

Victor Osimhen Returns to Nigeria as Al Hilal Transfer Hangs in Balance Ahead of FIFA Club World Cup

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
News

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
Mike Ejeagha
News

Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95

Muhammad A. Aliyu
Muhammad A. Aliyu
June 7, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?