President Bola Tinubu has announced the removal of fuel subsidies, saying the funds will be channeled to public infrastructure, education, health care, and job creation.
But, the 2023 budget has provision for the fuel subsidy till June.
President Tinubu made this known in his inaugural address at Eagle Square, on Monday in Abuja.
“We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favored the rich more than the poor. The subsidy can no longer justify its ever-increasing costs in the wake of drying resources.
“We shall, instead, re-channel the funds into better investment in public infrastructure, education, health care, and jobs that will materially improve the lives of millions,” he said.
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