Fuel Subsidy Won't Be Implemented Immediately, President Tinubu Responds To Criticism

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 President Bola Tinubu has said that what he said about getting rid of fuel subsidies during his inauguration speech on Monday won't take place immediately.

In a statement made by the Asiwaju Bola Ahmed Media Centre, Tinubu said that Nigerians shouldn't buy things in a rush like they did after he spoke.

durable Reporters said that crowds for petrol appeared right away. When Tinubu spoke, petrol prices in Lagos, Abuja, Port Harcourt, and other big cities had risen to as high as N350 per litre.

Several interest and social groups have asked Tinubu not to start his presidency in a harsh way for Nigerians. Instead, they say he should be careful about getting rid of the fuel subsidy.

Tinubu's media office said in a tweet that the removal of fuel subsidies was not happening immediately but was part of a process that had been going on for a while.

The tweet says, "The public is reminded that President Bola Tinubu's statement that "subsidy is gone" is neither a new event nor a move by his new government.

"He was just telling me what was going on since the previous administration's budget for fuel subsidies was only approved for the first part of the year.

"In practise, this means that by the end of June, the Federal Government won't have enough money to keep the support programme going, which means it will end.

"The fear buying that has happened because of the message is not necessary, and it won't happen right away.

Furthermore, President Tinubu was clear about his plans to put the money that was used to pay subsidies into better investments that will help the general public, especially the poorest of the poor, deal with the loss of subsidies. This includes, but is not limited to, investments in public infrastructure, education, health care, and work that will make millions of Nigerians' lives better and give them more opportunities to make money.