BREAKING: “Fuel Subsidy Is Gone,” President Tinubu Reveals in Inaugural Address

BREAKING: “Fuel Subsidy Is Gone,” President Tinubu Reveals in Inaugural Address

  • Nigeria's new president has maintained that his administration can no longer fund the fuel subsidy
  • President Bola Ahmed Tinubu in his inaugural speech, noted that there is no rooms for payment of fuel subsidy in his budget
  • Tinubu on Monday, took his oath of office as the 16th President of Nigeria amidst tight security at the Eagle Square, venue of the swearing-in ceremony

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The newly inaugurated Nigerian President, Bola Ahmed Tinubu, has stated that his administration will not continue with payment of fuel subsidy.

Tinubu made this known during his inaugural speech at the Presidential inauguration at Eagles Square, Abuja, on Monday, May 29.

Bola Tinubu, fuel subsidy, May 29
President moves to stop fuel subsidy payment. Photo credit: Professor Yemi Osinbajo
Source: Facebook

Tinubu makes strong statement in inaugural speech

According to Tinubu, he is fully aware of the removal of subsidy in the 2023 budget, already running before his administration took over, noting that the country cannot continue to pay fuel subsidy, The Nigerian Tribune reported.

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Speaking further, he said the subsidy can no longer justify its ever-increasing costs in the wake of drying resources, Leadership report confirmed.

“We shall instead re-channel the funds into better investment in public infrastructure, education, healthcare and jobs that will materially improve the lives of millions,” Tinubu stated.

Watch moment Buhari flies home to Daura after handing over to Tinubu earlier reported that former President Muhammadu Buhari and his wife, Aisha have left the nation’s capital, Abuja, after handing over to his successor, President Bola Ahmed Tinubu, on Monday, May 29, 2023.

Buhari and his wife were accompanied by some top government officials of his administration to the Nnamdi Azikiwe International Airport, Abuja.

Nigeria's former president departed Eagle Square, Abuja, after handing over to Nigeria's 16th president, and thereafter boarded the Nigerian Air Force Jet 001 to Katsina enroute to his Daura hometown.

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The End of an Era: Watch moment Buhari flies home to Daura after handing over to Tinubu

“My family doesn’t need Nigeria’s wealth,” Remi Tinubu reveals ahead of May 29 inauguration

In another report, incoming First Lady Senator Oluremi Remi Tinubu said her family does not need Nigeria’s wealth to survive.

According to the president-elect's wife, she and her husband need the grace of God to govern.

She also said they need prayers from the Nigerian people as she reiterated that Tinubu’s government will do the right thing.


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