Olusegun Obasanjo who was the former president has revealed that the Federal Government reintroduced the fuel subsidy, which was initially removed in 2023, due to inflation.
During his inaugural address on May 29, 2023, Bola Tinubu had declared that the fuel subsidy was “gone.”
As a result of this development, the price of petrol has surged from approximately N200 to over N600 per litre.
This was revealed in an interview with the Financial Times, Obasanjo faulted the manner in which the subsidy was removed by the government.
According to him, the government should have implemented some measures before the subsidy removal.
He, however, explained that the subsidy has “come back” due to the inflation rate.
“There’s a lot of work that needs to be done. Not just wake up one morning and say you removed the subsidy. Because of inflation, the subsidy that we have removed is not gone. It has come back,” Obasanjo said.
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