‘Removal of petro subsidy challenging’, Tinubu speaks

BREAKING: Actual Reason I Removed Subsidy on Petrol, Tinubu Opens Up – TheTalk.NG

BREAKING: Actual Reason I Removed Subsidy on Petrol, Tinubu Opens Up

Tinubu/Tinubu news/fuel subsidy NigeriaPresident Tinubu removed fuel subsidy in May 2023. Photo credit: Asiwaju Bola Ahmed TinubuSource: Facebook

“By removing the subsidy, we are creating a more transparent and accountable energy sector. The funds that were previously allocated to subsidising petroleum products are now redirected towards developing and upgrading our energy and other social infrastructure.

“Furthermore, the removal of the subsidy has encouraged further private sector participation in the energy industry, with the potential to attract more local and international investors and foster innovation and competition that will drive down costs and improve the overall efficiency of our energy sector.”

“The decision to remove the petroleum subsidy is not an easy one, but it is a necessary one for the long-term energy security and economic prosperity of our beloved nation. I call upon all stakeholders, including industry experts, policymakers, and the general public, to engage in constructive dialogue and collaboration as we navigate these challenging but transformative times.”

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