Hours after President Bola Tinubu said that the government would stop the fuel subsidy scheme, fuel lines reappeared in Nigerian cities on Monday as many drivers rushed to purchase petroleum products.
In his inaugural speech on Monday at Eagle Square in Abuja, Mr. Tinubu vowed that the petroleum subsidy scheme will end because it was unsustainable.
He added that the fuel subsidy is only planned for in the current 2023 budget through June and that the money intended for the subsidy will instead be used to build public infrastructure, provide for public education and health care, and create jobs.
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