Tinubu Highlights Gains from Fuel Subsidy Removal, Redirects Funds to Infrastructure and Safety Nets
Tinubu: Removing Fuel Subsidy Was Necessary for National Growth President Bola Tinubu has defended the controversial removal of fuel subsidies, calling it a necessary step toward economic recovery and long-term national development . Speaking at the National Conference on Public Accounts and Fiscal Governance in Abuja on Monday, Tinubu said: “In 2022 alone, we spent over ₦4 trillion on fuel subsidies—more than our capital expenditure.” He described the move as painful but vital , emphasizing that it freed up resources for more impactful investments. “This was not just about saving money—it was about redirecting value to where it matters most.” Saved Funds Going Into Infrastructure, Social Programs Tinubu revealed that the government has redirected subsidy savings into: Critical infrastructure projects Strengthened social safety nets Targeted economic reforms He stressed that these moves aim to rebuild public trust and promote inclusive […]