President Tinubu Announces Removal Of Fuel Subsidy, Unified Forex Regime

The new President of the Federal Republic of Nigeria, Asiwaju Bola Ahmed Tinubu, has announced the removal of the fuel subsidy.

The President announced the removal of the fuel subsidy during his inaugural speech as he takes the oath of office as Nigeria’s 16th President on Monday.

Nigerians have demanded quick actions in the areas of the economy, security, fuel subsidy and other critical sectors.

He also directed a unified foreign exchange rates regime.

This is as he disclosed that his economic team will soon announce the key aspect of the economic policy for his administration.

Tinubu also spoke on transforming Nigeria’s economy by ensuring budgetary reforms and promised to make electricity more accessible by encouraging various state governments to participate in power generation.

President Tinubu noted that the incoming administration should be able to create a blueprint for reviving the refineries and removing fuel subsidies.