Fuel Subsidy is Gone –Tinubu

Nigeria’s new president, Bola Ahmed Tinubu has announced that “fuel subsidy is gone” after years of dithering by the outgoing former president, Buhari.

The president mentioned this in his inaugural speech on Monday, May 29th, 2023. According to the president, he said “unfortunately, in the 2023 budget, no provision is there for fuel subsidy, so Fuel subsidy is gone” he said.

It is not yet clear how and when subsidy will be removed as stakeholders in the petroleum industry have cautioned that Dangote refinery and others should be refining in-country before the removal to avoid unforeseen crisis in the sector.