…says removal not deed of his administration
By Akubulu Ngozi
The newly inaugurated president of Nigeria, Bola Ahmed Tinubu has stated that the removal of fuel subsidy would be taking effect by the end June.
He made this known through a statement disseminated through his Official Twitter Media Page @ABATMediaCentre today.
As contained in the statement, “The previous administration’s budget for fuel subsidy was planned and approved to last for only the first half of the year.
Effectively, this means that by the end of June, the Federal Government will be without funds to continue the subsidy regime, translating to its termination. The panic-buying that has ensued as a result of the communication is needless; it will not take immediate effect”, it states.
Also, stating reasons for the declaration of the removal, the President revealed that the previous administration failed to include fuel subsidy in its budget, hence, the declaration of its removal was not instigated by his administration.
“The public is advised to note that President Bola Tinubu’s declaration that “subsidy is gone” is neither a new development nor an action of his new administration. He was merely communicating the status quo, considering that the previous administration’s budget for fuel subsidy was planned and approved to last for only the first half of the year.”
