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

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

    Published on

    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.

    Kindly share this story:

    Contact: editor@thereporterng.com

    Stay informed!
    Follow us on: X.com: @TheReporter2024
    Follow us on: Facebook: TheReporterNigeria
    WhatsApp for breaking news, updates and exclusive content. Don't miss a headline – Click below to join now!
    WHATSAPP

    Latest articles

    African Ministers of Minerals re-elect Nigeria’s Alake AMSG Chair

    THE Minister of Solid Minerals Development, Dr Dele Alake, has been re-elected Chairman of...

    2027: Drama as Makinde’s advisory council member endorses Oriyomi as next Oyo gov

    Drama unfolded in Oyo State’s political space as a member of Governor Seyi Makinde’s...

    Economic hardship forces owners of private cars into `kabu kabu’

    Abuja - Economic hardship and rising living costs have pushed many private car owners,...

    Police arrest nephew, two others over killing of Kano housewife, her six children

    KANO --- The Kano State Police Command said it has arrested three suspected masterminds,...

    More like this

    African Ministers of Minerals re-elect Nigeria’s Alake AMSG Chair

    THE Minister of Solid Minerals Development, Dr Dele Alake, has been re-elected Chairman of...

    2027: Drama as Makinde’s advisory council member endorses Oriyomi as next Oyo gov

    Drama unfolded in Oyo State’s political space as a member of Governor Seyi Makinde’s...

    Economic hardship forces owners of private cars into `kabu kabu’

    Abuja - Economic hardship and rising living costs have pushed many private car owners,...