President Bola Tinubu has officially announced the removal of fuel subsidy in Nigeria, rationalising that could no longer be justified.
He also announced that the bank interest rate, which he lamented was too high, will be brought down.
The president mentioned this in his inaugural speech on Monday, May 29th, 2023. According to the president, he said “unfortunately, in the 2023 budget there’s no provision for fuel subsidy, so Fuel subsidy is gone” he said.
Nigeria’s new president, Bola Ahmed Tinubu has announced that “fuel subsidy is gone” after years of dithering by the outgoing former president, Buhari.
