No more fuel subsidies - President Bola Tinubu
President Bola Tinubu

No more fuel subsidies - President Bola Tinubu

Nigeria's President, Bola Tinubu says the era of subsidy payment on fuel has ended.


He added that this was contained in the 2023 budget  that made no provision for fuel subsidy saying subsidy payment is no longer justifiable.

"The fuel subsidy is gone" he declared in his inaugural speech at the Eagle Square this afternoon after being sworn in as Nigeria's 16th President.

He premised the economic empowerment of Nigeria on a unified exchange rate which he noted would help him channel funds into infrastructure and other areas.

"Interest rate is currently too high and will be reviewed," he noted.

He also promise to review multiple taxation to cushion investors and attract fresh foreign direct and local investments. He promised one million jobs in the digital economy.

He vowed to rid the nation of terrorism and criminality to ensure a sound economy.

"Security shall be top of our administration," he stated.

Meanwhile a development economist, Jide Jojo has urged the newly elected president to revive the economy and the turn the fortunes of the country around.

He revealed that the ministerial appointments President Bola Tinubu will be critical and an indicator of how his tenure will be judged.

"He must move beyond appointments and stick to his mantra of forming a government of national competence," he noted.

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