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Fuel Subsidy: ‘I Inherited Liability’ – Pres. Tinubu
Eko Hot Blog reports that Nigeria President, Bola Tinubu has stated that he inherited liability from his predecessor.
Tinubu stated this during a closed-door meeting with the All Progressives Congress (APC) governors at the Presidential Villa, Abuja on Friday.
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On Monday, May 29, Tinubu, in his inauguration speech, said the subsidy regime was over, noting that it was not provided for in the 2023 appropriation act.
The president’s pronouncement sparked panic-buying of petrol by Nigerians across the country.
On Wednesday, the Nigerian National Petroleum Corporation (NNPC) Limited said it would adjust its pump prices to reflect market realities. The commodity now sells for as high as N550 per litre
Speaking with the APC governor on matters arising and his agenda for the people, Tinibu said, “I don’t have dealership in petroleum products and I don’t intend to have one. The decisions that you have seen are due to the fact that I inherited the asset and liability of my predicissesor.
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“No budget, no penny that has been removed. But we have to push on, and make decisions that affect all of us.
“And you as progressive thinkers under the party umbrella have a serious role to play in educating the people and ensure we manage ourselves”
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