Politics
Obasanjo Tears The Internet Apart With Explosive Statement: “Subsidy Is Back”
Obasanjo Tears The Internet Apart With Explosive Statement: “Subsidy Is Back” Fuel subsidy is back, according to former President Olusegun Obasanjo. In a recent interview with the Financial Times, Obasanjo revealed that the subsidy, which the Federal Government removed in 2023, has been reintroduced due to rising inflation.....KINDLY READ THE FULL STORY HERE▶
Obasanjo criticized the government’s approach to removing the subsidy, arguing that they should have implemented supporting measures beforehand. He noted that, as a result of inflation, the subsidy has effectively “returned.”
“There’s a lot of work that needs to be done. You can’t just wake up one morning and declare that you’ve removed the subsidy. Due to inflation, the subsidy we thought we had removed has come back,” Obasanjo remarked.
President Bola Tinubu, in his inaugural address on May 29, 2023, had announced that the fuel subsidy was “gone.” This announcement led to a surge in petrol prices from approximately N200 to over N600 per litre.
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