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Tinubu Declares End of Petrol Subsidy Era

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: May 29, 2023
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1 Min Read
Asiwaju Bola Tinubu
Asiwaju Bola Tinubu
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In a groundbreaking inaugural speech as the newly elected President of Nigeria, Bola Tinubu boldly declared an end to the long-standing petrol subsidy regime.

The announcement, made on Monday, has sent ripples of anticipation throughout the nation as Nigerians eagerly await the transformative effects this decision may bring.

President Tinubu’s address was filled with promises of change and a firm commitment to tackling the economic challenges that have plagued the country for years.

With the elimination of the fuel subsidy, he aims to redirect the considerable funds saved towards more sustainable and development-oriented initiatives.

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“No provision is there for fuel subsidy [in the budget]. So fuel subsidy is gone. Subsidy can no longer justify an ever-increasing cost in the wake of dry resources. We shall instead rechannel [funds towards] public infrastructure, education, etc.”

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ByMuhammad A. Aliyu
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Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Ecobank Nigeria Sets Stage for Second Edition of Lagos Adire Festival
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