News
Obasanjo says fuel subsidy reinstated, criticizes Tinubu’s removal strategy
Former Nigerian President Chief Olusegun Obasanjo has asserted that the fuel subsidy, which was removed in June 2023 by President Bola Tinubu’s administration, has effectively been reinstated due to rising inflation.
In a recent Financial Times documentary, Obasanjo criticized the manner in which President Tinubu abolished the fuel subsidy without implementing adequate preparatory measures.
READ ALSO: Obasanjo warns of cabal obstruction against $20bn Dangote Refinery
“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,” he said.
Obasanjo emphasized the need for increased investor confidence in Nigeria and advocated for a shift from a transactional to a transformational economy.
His comments come amid ongoing hunger protests that have gripped the nation. The protests, which began last Thursday, entered their sixth day on Tuesday, with demonstrators demanding the reinstatement of the fuel subsidy regime.
-
Latest7 days agoIsrael marks 3 years since October 7 Hamas attack amid Gaza strikes, election debate
-
Energy7 days agoFuel Battle: Dangote, marketers and government clash over petrol imports
-
Energy1 week agoPetrol, diesel prices rise 86% in 2026 as costs hit fresh highs
-
Latest2 days agoFull List: Meet the 2026 Nobel Prize winners across six categories
-
Football1 week agoNigeria’s World Cup exit under spotlight as FIFA’s DR Congo files emerge
-
Latest1 week agoUS Court set to rule on release of FBI, DEA records on Tinubu
-
Business1 week agoNigerian investors at a crossroads as fixed-income yields slide
-
Latest1 week agoOyo APC crisis deepens as Oluyole reconciliation meeting ends in brawl