December 11, 2024
Tinubu Says Nigeria Has Saved Over N1 Trillion From Fuel Subsidy Removal
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Tinubu Says Nigeria Has Saved Over N1 Trillion From Fuel Subsidy Removal

President Bola Tinubu says he is aware Nigerians are being hurt by the effects of fuel subsidy removal.

Speaking during a nationwide broadcast last night, the President says he does not mean to hurt the masses and wishes there were other paths to turn around the economy without removing fuel subsidy.

According to him, more than N1 trillion has been saved since the removal of the petrol subsidy which he says would have only benefitted smugglers and fraudsters. 

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The President says the money will now be used more directly and more beneficially for Nigerian families.

President Tinubu also referenced the four Executive Orders he signed earlier last month, which he says are in line with his electoral promise to address unfriendly fiscal policies and multiple taxes stifling the business environment.

He also added that the Executive Orders on the suspension of some taxes will provide necessary buffers for businesses in the manufacturing sector to continue to thrive and expand.

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