Monday 29 May 2023

Shehu Sani reacts as Tinubu removes fuel subsidy


Former federal lawmaker, Senator Shehu Sani, has reacted to the removal of the fuel subsidy regime by President Bola Tinubu.

DAILY POST earlier reported that the newly sworn-in president had, during his inaugural speech, said the subsidy is no longer sustainable in the country, stressing that it is gone.

Reacting, Sani, in a tweet on his verified Twitter handle, lauded President Tinubu, stating that it is the right time to take tough decisions that are capable of revamping the nation’s economy.

 He wrote: “Within seven months last year, the CBN ‘defended’ the naira with $11.24 billion. Currently, petrol subsidy consumes N400 billion monthly.

“There is no better time to take tough economic decisions to revamp our economy than now. The culture of allocating foreign exchange to elites with multiple bureaus de change to sell on the black market must end.

“The opacity of the subsidy regime’s chains of fraud must also end.”

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