President Bola Tinubu said the country has saved over N1trn from petrol subsidy since its removal two months ago.
Tinubu disclosed this during his second nationwide broadcast at the Presidential Villa, Abuja on Monday, July 31, 2023.
The former Lagos State governor who
spoke about the state of economy and the impact of subsidy removal, said, the amount saved would have been wasted on fraudulent subsidy payment.
He said, “in a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters.
“That money will now be used more directly and more beneficially for you and your families,” Tinubu said.
He restated his pledge to make education more affordable, assuring that no Nigerian student would abandon his or her education because of lack of money.
“For example, we shall fulfill our promise to make education more affordable to all and provide loans to higher education students who may need them. No Nigerian student will have to abandon his or her education because of lack of money,” he said.
