The Nigerian Government has ruled out the return of fuel
subsidies amid the hunger protests.
The Minister of Finance, Wale Edun disclosed this on Tuesday
during an interview on AIT.
His comment comes amid demand by protesters for the return
of fuel subsidies as a solution to the rising cost of living.
However, Edun said fuel subsidy is not in the 2024 national budget.
He stated that there are signs that the country is on the
right path economically.
“There is no fuel subsidy in the Budget. That is the truth
and the technical fact. We have signs that we are going in the right direction.
What we must determine to do is to maintain these trends”, he said.
Recall that President Bola Ahmed Tinubu in his broadcast to
Nigerians at the weekend said the decision to remove fuel subsidies was painful
but necessary.
However, former President Olusegun Obasanjo in an interview
with Financial Times said Nigeria’s fuel subsidy had returned due to inflation.
Recall that President Tinubu removed the fuel subsidy in
June 2023 which saw the product increase to over N600 per liter from N238.
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