President Bola Tinubu has declares the removal of the fuel subsidy beginning from July 1, 2023. He emphasized that his government will not provide funds to subsidise the product.
He made the announcement during his inaugural speech as the 16th President of Nigeria at Eagle Square, Abuja on Monday.
President Tinubu explained that he is taking this decision because the 2023 budget has not provided for the payment of fuel subsidy from the second half of the year.
In the 2023 Appropriation Act signed into law by former former president Muhammadu Buhari, the provision was only for January 1 to June 30.
