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.
-
Latest5 days agoLagos NURTW organising secretary Toba Ajiboye dies after gunmen attack
-
Business1 week agoNCC chief highlights trust as key to Nigeria’s digital transformation
-
Politics1 week agoADC urges FG to rescue Borno, Kwara kidnap victims after Oyo schoolchildren’s release
-
Aviation6 days agoNCAA, NAMA disagree over proposed revenue sharing formula
-
Business6 days agoNCC unveils cost-sharing framework to boost broadband rollout, end repeated road excavations
-
Maritime6 days agoLicensed port agents back FG’s Green Tax on imported vehicles
-
Latest1 week agoAtiku slams presidency over Oyo school rescue ‘silence’ claim
-
Latest1 week agoStructural cracks: LASBCA pulls down six-flat building in Abesan Estate (Video)