Reiterating amidst hunger protests, the Nigerian government has firmly dismissed any possibility of reinstating fuel subsidies.
Speaking on AIT during an interview on Tuesday, Finance Minister Wale Edun made it clear that fuel subsidies are not part of the 2024 national budget.
Despite demands from protesters seeking relief from the escalating cost of living through the resurrection of fuel subsidies, Edun emphasized the government’s stance.
Edun expressed optimism about the country’s economic trajectory, stating, “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.”
During his recent address to the nation, President Bola Ahmed Tinubu addressed the painful but imperative decision to eliminate fuel subsidies.
However, former President Olusegun Obasanjo highlighted the resurgence of Nigeria’s fuel subsidy amid inflation in an interview with Financial Times.
It’s worth noting that President Tinubu removed the fuel subsidy in June 2023, resulting in a significant price hike of the product to over N600 per liter from N238.