The former president of Nigeria, Olusegun Obasanjo, had alleged that the money being paid for fuel subsidies in the country, which was stopped when Tinubu assumed office, has been reintroduced due to the level of inflation in the country.
The former president’s revelation is against the government’s claims that the fuel subsidy payment has stopped.
The former president, who criticised the present government, explained that removing the fuel subsidy goes beyond standing to announce the decision; he noted that before such a critical decision is made, modalities to caution the effect of the removal must be put in place.
The former president noted that the decision to bring back the subsidy was due to the country’s high inflation level. He explained that the government should introduce key modalities to transform the country from a transactional economy to a transformational economy, which will be a key factor in boosting investor confidence.
The current protests in the country are due to the hardships experienced by the residents since the removal of the fuel subsidy in 2023.
The protesters have demanded the reinstatement of the fuel subsidy in the country, among many demands.
In a statewide broadcast on Sunday, the president of the country, Bola Tinubu, downplayed every possibility of reviving the fuel subsidy in the country. He noted that the removal was a painful decision but very necessary. He noted that there has been so much noise regarding the situation, but it has come to stay, he said.
