The newly inaugurated Nigeria President, Bola Ahmed Tinubu, has stated that his administration will not continue with payment of fuel subsidy.
He gave the directive at the Eagle Square Abuja while delivering his maiden address to Nigerians.
“On fuel subsidy, the budget I met before I assumed office and what I heard is that there is no provision for subsidy. “Fuel subsidy is gone,” he simply stated.
Speaking further, the subsidy can no longer justify its ever-increasing costs in the wake of drying resources, the president further noted.
“We shall instead re-channel the funds into better investment in public infrastructure, education, healthcare and jobs that will materially improve the lives of millions,” Tinubu stated.