Skip to main content

Queues Resurface After President Tinubu Announced Fuel Subsidy Removal

FILE

Some Nigerian National Petroleum Corportation (NNPC) stations in Ikeja, Alausa were crowded by motorists who rushed to buy the product.
 

Petrol stations in Lagos started witnessing queues few hours after President Bola Tinubu announced that “fuel subsidy is gone”.
Some Nigerian National Petroleum Corportation (NNPC) stations in Ikeja, Alausa were crowded by motorists who rushed to buy the product.
Many private stations were not selling as of the time of filing this report, Daily Trust reports.
SaharaReporters earlier reported that the newly inaugurated Nigerian president officially announced the removal of fuel subsidy, saying that there was no provision for it.
Tinubu had said this on Monday during his inaugural speech at Eagle Square in Abuja.
He had said he was informed that there was no provision for fuel subsidy, adding that it could no longer be justified.   
He said, “Fuel subsidy is no more. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources.
"We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.
“No provision for fuel subsidy.”
He said there would be a “thorough house cleaning,” adding that the interest rate would be reduced.

Comments

Popular posts from this blog

Dr. Vladimir Zelenko has now treated 699 coronavirus patients with 100% success

ORIGIN OF THE AKAN - Onyeji Nnaji

GARDEN OF EDEN FOUND IN WEST AFRICA - Onyeji Nnaji

Taylor Swift: 'White supremacy is repulsive. There is nothing worse'

TYPES OF PREPOSITION - Onyeji Nnaji

THE ORIGIN AND HISTORY OF NSUKKA by Onyeji Nnaji

FIVE WAYS A WIFE CAN REST HER HUSBAND ON HER

THE HISTORY AND ORIGIN OF THE ZULU PEOPLE - Onyeji Nnaji

BRIEF HISTORY OF NKALAHA - Onyeji Nnaji