Fuel subsidy: Fayose hails Tinubu as Nigerians lament pump price increase

Former Ekiti State governor, Ayo Fayose, has commended President Bola Ahmed Tinubu for announcing the removal of fuel subsidy.  Recall that Tinubu, in his inaugural address, said the subsidy is no longer sustainable in Nigeria, stressing that it was gone. The declaration has brought queues at petrol stations in the as commercial drivers hiked the […]

Former Ekiti State governor, Ayo Fayose, has commended President Bola Ahmed Tinubu for announcing the removal of fuel subsidy. 

Recall that Tinubu, in his inaugural address, said the subsidy is no longer sustainable in Nigeria, stressing that it was gone.

The declaration has brought queues at petrol stations in the as commercial drivers hiked the prices of transport fares since Tuesday.

Reacting to the removal of fuel subsidy, Fayose, said it was a best and wisest decision by Tinubu.

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Fayose, in a series of tweets on Wednesday, said, “On this removal of fuel subsidy, I am convinced that President Tinubu has taken the best and the wisest decision for the collective good of Nigeria and its people. He promised to remove the subsidy, he never hid it.

“Most importantly, too, the immediate past govt already removed fuel subsidy technically by not making provision for it in the 2023 budget.

“I appeal to Nigerians to bear with the government for now as the present hardship will ease out with time.

“Removing the fuel subsidy is the best thing to do and it has to be done once and for all.

“Unfortunately, the subsidy regime has only been benefiting a few people in the oil industry and Nigeria must break this chain once and for all.

“No doubt, President Tinubu is not a magician who can manufacture money. He can only strategically reposition the country, using his experience and intellect, which he has started.

“Many govts have come and paid lip service to all these issues, it is time to sustain our country by taking decisions that may be seen as harsh, but can return the country back to the path of progress.

“The NLC and all interested parties, especially ordinary Nigerians should realize that the last administration did more damage and the new government can only be finding ways and means to stabilize the country.

“Sadly, like typical Nigerians who are always desirous of taking advantage of every situation, the fuel marketers are only interested in making money for themselves and methinks the govt should come very hard on them this time.

“Anyone among them found to be hoarding fuel or selling at an exorbitant rate should be dealt with.”

The Nigerian National Petroleum Corporation Limited (NNPCL) announced an upward price review, which saw fuel selling for N488 per litre in Lagos and as high as N570 in some parts of the North East.

Meanwhile, some Nigerians on social media have been lamenting the effect of the pump price increase amid economic hardship.