BREAKING: Federal Government Finally Removes Fuel Subsidy [VIDEO]—TheTimes Nigeria reports that the federal government of Nigeria has removed fuel subsidy.
This announcement was made by former Lagos governor, Babatunde Raji Fashola who served as a minister in the President Muhammadu Buhari-led administration.
Fashola made it known that the subsidy has been removed already because there is no provision for it beyond June in the 2023 budget which was passed by the national assembly
He explained that the incoming administration will only try to manage the effect of the removal on Nigerians but as of June, there will be no subsidy for fuel anymore.
‘’ We see subsidy as price but it is a policy driven by law and finances. The 2023 budget has no subsidy component beyond June so as a matter of policy, this outgoing government has decided we can’t fund this subsidy anymore and we are taking it to the end of our administration. As a matter of Law, the Nigerian people have passed a law to end subsidy in June. In my view, there is no subsidy to be removed, it has been removed.’’
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