Stephen Ukandu, Umuahia
President Bola Ahmed Tinubu has disclosed that Nigeria had saved over N1 trillion since the removal of the petrol subsidy two months ago.
The President who disclosed this Monday, said that fund would have been otherwise squandered by those he referred to as “smugglers and fraudsters” who had benefited from the subsidy regime.
He said that saved funds would be channeled into intervention programmes targeting families and businesses nationwide.
“The funds so far saved from subsidy removal will now be used more directly and more beneficially for you and your families.”
Tinubu who insisted that the fuel subsidy removal was to save the country’s economy from being squeezed by a tiny powerful elit vowed not to reverse the subsidy removal.
“In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters.”
The President who acknowledged the hardship triggered by the fuel subsidy removal, urged Nigerians to “look beyond the present temporary pains and aim at the larger picture.”
“I plead with you to please have faith in our ability to deliver and in our concern for your well-being.
“All of our good and helpful plans are in the works. More importantly, I know that they will work.”
