Fuel Stations Shut, Queues Return after Tinubu’s Subsidy removal pronouncement
Some fuel stations in Lagos witnessed queues on earlier in the week while some were shut by the owners after Bola Ahmed Tinubu declared, while delivering his speech after his inauguration as Nigeria’s president stated that ‘fuel subsidy is gone.”
Many fuel stations were not selling following the announcement and the few that were open were besieged by crowds of buyers.
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Tinubu, who spoke at the Eagles Square in Abuja shortly after being sworn-in as president, said there was no provision for subsidy in the national budget from June 2023.
“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, health care and jobs that will materially improve the lives of millions,” he stated.
