News

Why I decided to remove subsidy on petrol – Tinubu

today02/27/2024 2

Background
share close

President Bola Tinubu has explained why he removed subsidy on petrol.
The President stated this while speaking at the opening of the 2024 Nigeria International Energy Summit, NIES, in Abuja. On Tuesday
Tinubu was represented by his Minister of Information and National Orientation, Mohammed Idris.
According to Tinubu, it was a challenging decision to make, but necessary to ensure a transparent energy sector.
Idris said The petroleum subsidy has, over the years, strained the economic resources, leading to inefficiencies and, most importantly, hindering the ability to invest in critical areas of energy security.
He said By removing the subsidy, it creating a more transparent and accountable energy sector. The funds that were previously allocated to subsidising petroleum products are now redirected towards developing and upgrading our energy and other social infrastructure.

Written by: bossgmsi

Rate it

Previous post

News

NLC says Nigerians are hungry demands urgent action

The Nigeria Labor Congress, NLC, has called on the Federal Government to immediately tackle hunger and economic hardship in the country. NLC President, Joe Ajaero, said this while addressing workers during a peaceful protest at the National Assembly on Tuesday in Abuja. He said they are here for a peaceful protest, because Nigerians are hungry and they know where is pinching them. Noting that bag of rice is over N70, […]

today02/27/2024 4

Post comments (0)

Leave a reply

Your email address will not be published. Required fields are marked *

0%
Our customer support team is here to answer your questions.
error: Alert: Content is protected !!