Over 1trn gotten since removal of subsidy

Over 1trn gotten since removal of subsidy

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Over 1trn gotten since removal of subsidy

Subsidy removal

Over 1trn gotten since removal of subsidy. President Bola Tinubu claimed on Monday that the Federal Government of Nigeria has saved N1 trillion in the two months since the petrol subsidy was removed.

Tinubu stated that funds that would have otherwise been spent by “smugglers and fraudsters” will instead be diverted towards intervention programs aimed at families across the country.

“In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters,” Tinubu said in his nationwide broadcast on current economic challenges in the country.

While acknowledging the hardship occasioned by an unavoidable lag in palliative measures these past 62 days, he urged Nigerians to “look beyond the present temporary pains and aim at the larger picture.”

“I plead with you to please have faith in our ability to deliver and in our concern for your well-being.

“All of our good and helpful plans are in the works. More importantly, I know that they will work,” he affirmed.

He said the funds so far saved from subsidy removal “will now be used more directly and more beneficially for you and your families.”

President Tinubu also promised to get the country out of the economic quagmire with the steps his administration has already made.

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