Independence: Nigeria Gains N5.4 trillion from Fuel Subsidy Removal – Gov Abiodun
The Ogun state governor, Prince Dapo Abiodun has says Nigeria will save N5.4 trillion from the removal of fuel subsidies in 2024.
He explained that without the bold action by President Bola Tinubu, the subsidy would have cost nearly as much as the Federal Government’s budget of N6.7 trillion for the same year.
Governor Abiodun while speaking at a service commemorating Nigeria’s 64th independence held at the Cathedral Church of St. Peter, Ake, Abeokuta, emphasised that the savings would be redirected toward infrastructure development across the country.
The Governor also highlighted efforts by his administration to cushion the impact of the subsidy removal.
These include the deployment of CNG buses, the launch of e-bikes for energy transition, reduced workdays for civil servants, and free healthcare services for the poor and elderly.”
Additionally, Governor Abiodun revealed that the state would soon complete its farmers’ markets across four zones and open the Gateway Trading Company to provide food items at wholesale prices.
