Fuel Subsidy Is Back In Nigeria – Obasanjo Makes Fresh Revelation Amidst Protests

Former Nigerian President, Chief Olusegun Obasanjo, has stated that the fuel subsidy, which was removed by President Bola Tinubu’s administration in June 2023, has effectively returned due to the impact of inflation.

Obasanjo shared this view in a recent interview with the Financial Times, criticizing the manner in which the subsidy was removed.

He argued that the government should have implemented supportive measures before taking such a significant step.

Read Also: List Of States Where Russian Flag Has Been Used By Protesters

“There’s a lot of work that needs to be done. Not just wake up one morning and say you removed the subsidy.

“Because of inflation, the subsidy that we have removed is not gone. It has come back,” the former President stressed.

His remarks come in the midst of ongoing hunger protests in Nigeria.

The protests, which began on Thursday, entered their fifth day on Monday, with a primary demand for the reinstatement of the fuel subsidy regime.

However, in a Sunday broadcast, President Tinubu urged protesters to suspend their demonstrations, stating that while the decision to remove the fuel subsidy was painful, it was necessary. He explained that the subsidy had become a stranglehold on the nation’s economic “jugular” and was hindering economic development and progress.

Related articles

Atiku Reacts To Rivers LG Election

Former Vice-President and Peoples Democratic Party (PDP) presidential candidate,...

Dangote Group Reacts To Death Of Phyna’s Sister, Ruth Otabor

The Dangote Group has expressed "deep sadness" over the...

Phyna Loses Sister, Ruth Otabor After Accident

The family of Ruth Otabor, the sister of Big...

Why I Criticised Peter Obi – Morayo Afolabi-Brown Speaks After Resigning From TVC

Former "Your View" host, Morayo Afolabi-Brown, has admitted that...

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here