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In the first policy directive of his administration, President Bola Tinubu has announced the removal of fuel subsidy.
He disclosed this on Monday in his inaugural speech as the new President of Nigeria.
According to him, 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, healthcare and jobs that will materially improve the lives of millions,” Tinubu stated.
The average value for Abuja during that period was 253.28 Nigerian Naira with a minimum of 208.05 Nigerian Naira on 06-Feb-2023 and a maximum of 266.67 Nigerian Naira on 01-May-2023. For comparison, the average price of gasoline in the world for this period is 813.08 Nigerian Naira.
Peoplesmind
