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Published on 2024-04-15 16:42:24
Former Kaduna state governor, Nasir El-Rufai, has revealed that President Bola Tinubu has reinstated the payment of fuel subsidy. El-Rufai emphasized that many Nigerians are unaware of this development and that Tinubu’s administration is paying even more than what was in place before he assumed office.
El-Rufai made these comments while speaking to journalists in Maiduguri, the capital of Borno state, on Monday, April 15. He mentioned that the measures implemented by Tinubu to mitigate the impact of the fuel subsidy were ineffective, leading the government to reverse the policy. This decision was necessitated by the realization that the current cost of subsidy was higher than it was before the subsidy was initially removed.
President Tinubu had previously declared that the subsidy had been removed, justifying that the payment of subsidy was not justified. El-Rufai expressed his support for the policy but stressed the importance of making necessary adjustments to ensure its effectiveness. He noted that the government is currently spending a significant amount of money on subsidy, even more than what was being paid before.
The former governor highlighted that despite the higher costs, the price of diesel remains higher than petrol in the country. This situation has led to the petrol price remaining at N600, as the government continues to subsidize the commodity for the Nigerian people, paying even more than before.
It is worth noting that El-Rufai’s disclosure sheds light on a critical issue that has significant implications for the Nigerian economy and its citizens. The resumption of fuel subsidy by Tinubu’s administration carries substantial financial implications and underscores the challenges faced in balancing the need for subsidy against the economic realities of the country.
As the debate over fuel subsidy continues, it is essential for the government to carefully consider the impact of its policies on the Nigerian people and the economy as a whole. The decision to reinstate the subsidy reflects a nuanced understanding of the complexities involved in managing fuel pricing and subsidies in a developing economy like Nigeria.
In conclusion, Nasir El-Rufai’s revelation about President Bola Tinubu’s return to paying fuel subsidy highlights the ongoing challenges and complexities of energy policy in Nigeria. The decision to reinstate the subsidy underscores the delicate balance between economic realities and the welfare of the Nigerian people. Moving forward, it is crucial for the government to carefully navigate these challenges to ensure sustainable and equitable energy policies for the benefit of all Nigerians.
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