…infrastructure and challenges confronting farmers. He added that the removal of the fuel subsidy had not translated into improved living conditions for Nigerians, while farmers were also struggling because of cheap imported food. The former Kano State governor said the alliance among the Kwankwasiyya Movement, NDC and…

…revenue and economic growth. It identified the challenges as “a fiscally unsustainable fuel subsidy regime, an opaque forex system that discouraged investment, a non-performing oil sector, and a tax base ‘far below its potential’.” The revenue authority said the initial impact of the reforms created significant economi…

…Commission (RMAFC), Mohammed Shehu, disclosed that Nigeria spent ₦1.16 trillion on fuel subsidy in 2021, while another ₦1.20 trillion was deducted from the Federation's crude oil sales proceeds during the same period.Shehu said fuel subsidy payments represented a significant drain on public finances. Other deductions f…

…that previous administrations were unwilling to implement. He highlighted the removal of fuel subsidy, the unification of the foreign exchange market, efforts to improve government revenue, increased infrastructure investment, policies aimed at attracting local and foreign investors, the expansion of the student loan p…

…I will cite two or three examples. In 2023, when President Bola Tinubu removed fuel subsidy, he gave N2 billion to each state of the federation, among other things, to purchase CNG buses and improve on the transportation of the state. “Osun State diverted that N2 billion. Up to this moment, they have not been able to a…

…administration under President Bola Tinubu, describing the simultaneous removal of fuel subsidy and floating of the naira as a double blow to Nigerians’ welfare. Makinde, represented by a national leader of the party, Mr Babatunde Tijani, spoke on Monday in Abeokuta, Ogun State, during the unveiling of the APM deputy g…

…administration under President Bola Tinubu, describing the simultaneous removal of fuel subsidy and floating of the naira as a double blow to the welfare of Nigerians. Makinde, represented by a national leader of the party, Mr Babatunde Tijani, disclosed this on Monday in Abeokuta during the unveiling of the APM deputy…

…of fiscal recklessness, excessive borrowing, imposing hardship through the removal of fuel subsidy, and implementing tax policies he described as punitive. Atiku also questioned what he termed an unaccounted oil revenue windfall and warned that the country’s economy was drifting. Responding, Onanuga accused the preside…

Atiku Abubakar rejected claims by Finance Minister Taiwo Oyedele that fuel subsidy savings are being used to reduce government debt and improve workers' welfareThe former Vice President cited alleged CBN figures showing the federal government's credit exposure rose by ₦17.39 trillion, or 77.6%, in just one yearAtiku al…

…have intensified for NNPCL Group CEO Bayo Ojulari to resign over allegations that fuel subsidy has returned through the backdoor. Photo >The group raised alarm over figures in NNPCL's 2024 financial records, which reportedly showed total claims and under-recovery costs of about ₦17.5 trillion. Of that sum, approximatel…

…He also criticised the implementation of key economic reforms, including the removal of fuel subsidy and exchange rate liberalisation, arguing that they were introduced without adequate measures to cushion their effects on citizens. According to him, rising inflation, high food prices and declining agricultural product…

…In a statement issued by Shaibu, Atiku said Nigerians were assured that the removal of fuel subsidy, increased taxation and other economic reforms would reduce borrowing and stabilise the country’s finances, but argued that the opposite had occurred. According to him, the latest borrowing figures demonstrated that the…

…“another political experiment.” According to him, key reforms, including the removal of fuel subsidy, exchange rate adjustments and fiscal restructuring, were introduced to reposition the economy for sustainable long-term growth. He argued that the policies, though difficult, had started yielding results and should be…

…was laying the foundation for long-term, inclusive growth through reforms such as fuel subsidy removal, exchange rate unification and changes in the oil and gas sector. While acknowledging that the reforms have imposed short-term hardships, he argued that they are necessary to address long-standing structural challenge…

…three years, Nigerians have been subjected to relentless hardship. They were told that fuel subsidy removal, exchange rate unification, higher taxes and rising tariffs were bitter pills that would eventually restore economic stability. Yet today, the same government cannot explain how more than ₦210 billion found its w…

…is seeking to demonstrate that reforms introduced in 2023, including scrapping a fuel subsidy and liberalising the naira, applauded by lenders and investors, are translating into broader gains for Nigerians after driving up inflation and living costs. Recall that the International Monetary Fund (IMF) said in June that…

…shared prosperity,” he explained. “The administration inherited multiple exchange rates, fuel subsidy distortions, weak public finances, and an inefficient tax system that imposed heavy compliance costs on businesses,” Oyedele said. He continued, “We chose reform over postponement because delaying difficult decisions w…

…instead of humans” had left ordinary Nigerians exposed, recalling that after the 2023 fuel subsidy removal, “some families were saying that they can no longer even afford three square meals, while their children go to school without food.” Odo questioned the celebration of macroeconomic stabilisation amid rising povert…

…Tinubu for a second term to consolidate ongoing reforms, noting that the removal of fuel subsidy, exchange rate unification and other economic policies had increased government revenue, improved investor confidence and boosted federal allocations to states. “Leadership is not about perfection; it is about progress. The…

…and the Igbos really disliked Tinubu. But why? Well, because Tinubu's removal of the fuel subsidy and scrapping of the fixed exchange rates hurt the Northern elite, which, for years, benefitted from the distorted subsidy and exchange-rate regimes. The North also hated his "sensible" decentralisation" agenda and "merito…

…The President said his administration’s recent economic reforms, such as ending the fuel subsidy and tackling multiple exchange rates, are essential steps to combat corruption and ensure economic survival. He emphasised that Africa possesses enormous potential and must move beyond endless conversations about developmen…

…He argued that while Nigerians had been subjected to economic reforms, including fuel subsidy removal, exchange rate adjustments and high interest rates, significant public funds were allegedly being spent outside official budgetary processes. The former vice president maintained that greater fiscal transparency could…

…given that unprecedented funds have been accruing to it following the removal of fuel subsidy by President Bola Tinubu, to enable states to have the necessary support and resources to confront security challenges within their territories. The statement further read: "It is both unfortunate and unacceptable that despite…

…highest levels in decades - 40.9 per cent in June 2024 - following the removal of the fuel subsidy and the devaluation of the naira, both policies implemented by the Tinubu administration. In the run-up to the 2027 presidential contest, all presidential candidates, including the incumbent, are expected to make the same…

…ground is that entrepreneurs are dealing with increasing cost pressure. The removal of fuel subsidy significantly affected input costs for many businesses. Those who depend on imports are struggling with tight margins due to exchange rate challenges, while local businesses are also affected because customers' purchasin…