FG’s Savings Surge by Over 500% After Petrol Subsidy Removal — NOA Report
Petrol Subsidy Removal Yields Massive Financial Gains The Federal Government’s savings jumped by over 500% in the first quarter of 2025 following the removal of petrol subsidies in 2023, according to a recent report by the National Orientation Agency (NOA) . This surge in revenue marks a major shift in Nigeria’s fiscal policy and has allowed the government to direct billions toward infrastructure, education, agriculture, and debt reduction. “For decades, oil subsidies were a major burden on our economy,” the report stated.“But today, we are seeing real progress thanks to President Tinubu’s bold decision.” A Historic Move That Stopped Billions in Waste President Bola Ahmed Tinubu ended the long-standing fuel subsidy regime shortly after taking office in 2023. The move stopped years of economic bleeding that had cost Nigeria over $84 billion between 2005 and 2022. Before the reform, fuel […]