Tinubu’s Government Stands Firm on Fuel Subsidy Removal, Denies Claim of False Information
Despite recent speculations and backlash, the administration of President Bola Tinubu has maintained that it did not lie about removing fuel subsidies and deregulating the downstream sector. Bayo Onanuga, Special Adviser to the President on Information and Strategy, released a statement clarifying that the government has been faithful to its policy of no longer paying fuel subsidies since the deregulation announcement in May 2023.
Onanuga debunked claims that the government has been unfaithful to its policy, stating that subsidy provisions have disappeared from Nigeria’s budget and are not included in the supplementary budget of 2023, nor in the 2024 budget and the amended 2024 budget.
The statement comes as NNPC Limited recently admitted owing suppliers $6 billion and the price of petrol increased from around ₦568 to ₦855 per litre, amid a lingering fuel scarcity crisis. Some oil marketers have since hiked prices by over 30 per cent, sparking concerns about the impact on consumers.
The Nigerian Labour Congress (NLC) has demanded a reversal of the new pump price, accusing the government of betraying the labour movement and condemning the increase as an example of government’s culture of terror, fear, and lying.
However, Onanuga highlighted that the introduction of Premium Motor Spirit (petrol) by the Dangote refinery into the Nigerian market will alleviate the suffering of the masses. He stressed that the refinery and other local refineries will become the fuel suppliers to the local market, creating jobs and reducing the demand for foreign exchange to import petroleum products.
In related news, the Dangote refinery has launched its petrole
