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    HomeNewsNigeria to save N5.4 trillion from fuel subsidy removal in 2024

    Nigeria to save N5.4 trillion from fuel subsidy removal in 2024

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    Ogun State Governor, Dapo Abiodun, has revealed that Nigeria would have spent a staggering N5.4 trillion on fuel subsidies by the end of 2024 if President Bola Ahmed Tinubu hadn’t intervened.

    This amount is alarmingly close to the federal government’s N6.7 trillion budget for infrastructure in the same fiscal year.
    At a special church service commemorating Nigeria’s 64th National Day in Abeokuta, Abiodun emphasized the importance of perseverance and constructive engagement with the government. He praised President Tinubu’s bold initiatives aimed at repositioning the economy and saving the country from bankruptcy.
    Abiodun also highlighted the benefits of the subsidy removal, stating that the saved funds can now be invested in improving infrastructure and social services. He urged Nigerians to engage with the government constructively, rather than resorting to protests and violence.
    The governor also outlined his administration’s efforts to cushion the effects of the current economic realities, including:
    CNG Bus Deployment: To reduce reliance on fossil fuels and promote cleaner energy.
    Energy Transition Programs: Launching e-bikes to encourage sustainable transportation.


    Reduced Workdays: Civil servants now work three days a week to alleviate economic pressures.
    Free Medical Services: Providing healthcare for the poor and elderly.
    Additionally, Abiodun announced plans to complete farmers’ markets across the state and establish the Gateway Trading Company, which will sell food items at wholesale prices.
    The Diocesan Bishop of Ijebu North Anglican Diocese, Rt. Rev’d Dr. Akinwande Godwin Odubena, emphasized the crucial role of leadership in shaping Nigeria’s future. He encouraged citizens to remain hopeful and prioritize unity and prosperity.

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