President Bola Tinubu has announced that Nigeria’s fuel subsidy is gone, calling for a complete deregulation of the downstream oil sector. According to Tinubu, the government’s decision to end fuel subsidy was inevitable due to the dire economic situation in the country. He argued that fuel subsidy has benefited only a few individuals and complicit organizations, rather than benefiting the public at large. He added that the subsidy has run its course, with the government spending trillions to keep it afloat. Tinubu called on the government to redirect the funds saved from the subsidy to infrastructure development and social welfare programs to support Nigerians in need. The move to end fuel subsidy has been met with mixed reactions from Nigerians, with some supporting the decision, while others expressed concerns that it will lead to an increase in the prices of goods and services.

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