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FG will soon publish details of petrol subsidy savings – Tinubu
President Bola Tinubu has said the Federal Government will soon publish details of how funds saved from the removal of petrol subsidy have been utilised.
Tinubu made this known on Thursday while receiving the leadership of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), where he defended the subsidy removal and highlighted infrastructure projects being financed by his administration.
The President said he had warned before assuming office that the petrol subsidy would be removed, despite concerns raised by NUPENG and the possibility of industrial action.
According to him, the policy has enabled the government to redirect resources towards critical areas of the economy.
“I served notice: you may strike or you won’t, but the fuel subsidy will be gone. And today, to the benefit of our great country, I will soon publish the utilisation of what it is,” Tinubu said.
The President also rejected claims that his administration’s economic policies had failed to benefit ordinary Nigerians, pointing to regular salary payments by local, state and federal governments.
He argued that salary payments also stimulate economic activities by supporting traders, families and other businesses.
Tinubu further highlighted major infrastructure projects, including the Lagos-Ibadan, Abuja-Kaduna, Abuja-Kano and Sokoto-Badagry highways, which he said were being supported through government financing.
He said the projects were aimed at boosting economic activities and improving the safety of Nigerians.
On Compressed Natural Gas (CNG), Tinubu urged NUPENG to ensure that savings from the cheaper fuel option were passed on to commuters, saying the benefits were currently being enjoyed more by truck owners.
The President commended NUPENG for its cooperation with his administration, describing the union as a “very good partner of government in progress” and a critical part of Nigeria’s economy.
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