We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor
By Ife Osemedua
365Daily – The newly inaugurated President of Nigeria, Senator Bola Tinubu, has declared that his government would remove the controversial fuel subsidy.
President Tinubu made this declaration while delivering his inaugural speech at the Eagle Square, on Monday in Abuja, moments after he took the oath of office.
The outgone administration of Muhammadu Buhari, had left the issue of fuel subsidy for its successor, even after promising to address the issue before the end of its term in office.
President Tinubu has now spoken on the controversial matter on his first day in office, as he said that “fuel subsidy is gone!”
Tinubu: “We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor.
“Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. 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.”