Business
Fuel Subsidy Is Back – Obasanjo Faults President Tinubu’s Claim On Removal Of Fuel Subsidy
Former President, Olusegun Obasanjo, has disclosed that the fuel subsidy, which was abolished by the President Bola Tinubu-led Nigerian government in 2023, has been reinstated due to soaring inflation.
The revelation contradicts Tinubu’s declaration during his inaugural address on May 29, 2023, that fuel subsidy had been permanently removed.
The subsidy’s removal led to a significant increase in petrol prices, from around N200 to over N600 per litre.
“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,” Obasanjo said.
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