Ogun State Governor Dapo Abiodun has said Nigeria will save N5.4 trillion from fuel subsidy at the end of this year, following President Bola Ahmed Tinubu’s removal of the funding last year when he assumed office.
The governor said it would have been disastrous for Nigeria to pay such a huge amount, if the nation was still operating the fuel subsidy regime against the Federal Government’s budget of N6.7 trillion for the same fiscal year.
Abiodun said this during a special church service commemorating the 64th National Day celebration at the Cathedral Church of St. Peter’s at Ake in Abeokuta, the state capital.
The governor said the money had been channeled to the development of infrastructures across the country.
“The Federal Government, under the amiable leadership of our President, Bola Ahmed Tinubu, wasted no time in embarking on some very bold and audacious initiatives aimed at repositioning our economy and saving us from bankruptcy. We must persevere.
“Mr. President removed the subsidy, which, if not curbed, would have cost us N5.4 trillion by the end of 2024.
“We have been busy subsidising our neighbours. These are funds that can be invested in improving our infrastructure and other social services.
“Our budget this year for infrastructure was N6.7 trillion; meanwhile, the subsidy would have consumed N5.4 trillion, if not curbed or checked”, he said.
Abiodun urged fellow Nigerians to engage the government constructively and not join those fanning the ember of discord.
