"The fuel Subsidy is gone. It is unjustifiable.....we shall rechannel the funds to education and healthcare....."
In the first policy directive of his administration, President Bola Tinubu has announced the removal of fuel subsidy.
He disclosed this on Monday in his inaugural speech as the new President of Nigeria.
According to him, 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, healthcare and jobs that will materially improve the lives of millions,” Tinubu stated.