Monday, September 30, 2024 –Gov Dapo Abiodun has applauded the decision of the Tinubu-led administration to remove fuel subsidy.
He stated that the decision saved the country from paying
₦5.4 trillion for petrol subsidy in 2024.
While speaking at the 64th National Day celebration at the Cathedral Church of
St. Peter in Abeokuta, Abiodun emphasized that this amount would have been
disastrous considering the Federal Government’s N6.7 trillion budget for the
same fiscal year.
“The Federal Government, under President Tinubu’s leadership, has taken bold
initiatives to reposition our economy and prevent bankruptcy. We must persevere
and recognize that the removed subsidy would have consumed N5.4 trillion, which
can now be invested in infrastructure and social services.”
Abiodun urged Nigerians to engage constructively with the government, warning
that protests would only lead to looting and vandalism. Instead, he encouraged
resilience, prayer, and perseverance, emphasizing that this administration is
inclusive.
President Tinubu during his inauguration on May 29, 2023, announced the removal
of petrol subsidy, an action aimed at deregulating the petroleum sector.
Nigerians have faced worsening living conditions, with a decline in disposable
income due to inflation since the removal.
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