President Bola Ahmed Tinubu’s decision to eliminate fuel subsidies has saved Nigeria N5.4 trillion, which would have been spent by the end of 2024, according to Ogun State Governor Dapo Abiodun. Abiodun stressed that this sum would have been catastrophic in light of the Federal Government’s N6.7 trillion budget for the same fiscal year while speaking at the 64th National Day celebration held at the Cathedral Church of St. Peter in Abeokuta. Abiodun said, “Under President Tinubu’s leadership, the Federal Government has taken bold initiatives to reposition our economy and prevent bankruptcy.” “We must continue and acknowledge that N5.4 trillion, which could now be used for social services and infrastructure, would have been spent on the eliminated subsidy.”
“We must continue and acknowledge that N5.4 trillion, which could now be used for social services and infrastructure, would have been spent on the eliminated subsidy.” Abiodun cautioned that protests would only result in looting and damage and advised Nigerians to interact with the administration in a positive way. Instead, he emphasized that this administration is inclusive and urged fortitude, prayer, and tenacity.
