In a groundbreaking development, Nigeria’s newly inaugurated President, Bola Ahmed Tinubu, has taken a bold step by abolishing the fuel subsidy regime in the country, citing its lack of sustainability.
President Tinubu made this significant announcement during his inaugural address to the nation at the prestigious Eagle Square in Abuja.
In his address, he highlighted the absence of any budgetary provision for fuel subsidy, indicating the need for a change in the prevailing system.
This decision marks a crucial turning point in Nigeria’s economic policies, as the government aims to address the long-standing issues surrounding fuel subsidies.
By taking this action, President Tinubu signals his commitment to implementing comprehensive reforms that will help reshape the nation’s energy sector.
President Tinubu’s decision reflects his determination to tackle economic challenges head-on and create a solid foundation for Nigeria’s growth and development.