Nigeria's new president has maintained that his administration can no longer fund the fuel subsidy
President Bola Ahmed Tinubu in his inaugural speech, noted that there is no payment for fuel subsidy in his budget
Tinubu on Monday, took his oath of office as the 16th President of Nigeria amidst tight security around Eagle Square, the venue of the swearing-in ceremony
The newly inaugurated Nigeria President, Bola Ahmed Tinubu, has stated that his administration will not continue with payment of fuel subsidy.
Tinubu made this known during his inaugural speech at the Presidential inauguration at Eagles Square, Abuja, on Monday, May 29
Tinubu makes a strong statement in his inaugural speech
According to Tinubu, he is fully aware of the removal of subsidy in the 2023 budget, already running before his administration took over, noting that the country cannot continue to pay fuel subsidy, The Nigerian Tribune reported.
Speaking further, the subsidy can no longer justify its ever-increasing costs in the wake of drying resources, the president further noted, Leadership report confirmed.
Speaking further, the subsidy can no longer justify its ever-increasing costs in the wake of drying resources, the president further noted, Leadership report confirmed.
“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.
Watch moment Buhari flies home to Daura after handing over to Tinubu Read more: https://www.legit.ng/politics/1536812-breaking-fuel-subsidy-president-tinubu-reveals-key-address-nation/
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