Fuel Subsidy: Shettima Speaks on consequences of unveiling a masquerade"

Kashim Shettima, the vice president, has maintained that no going back on the removal of fuel subsidies by the current administration.

The Nation reported that the vice president noted that the fuel subsidy regime will end Nigeria if the country did not end it, adding that the new administration is aware of "the consequences of unveiling a masquerade".

Shettima made this known while addressing journalists at the Presidential Villa on his first day of resuming office and that he and his boss, Bola Tinubu, anticipated strong opposition to removing the fuel subsidy.

According to Shettima, President Tinubu has made the pronouncement that would not change because the subsidy regime is bent on ending the country if the nation did not make a decisive move.

The vice president said: “In 2022, we spent $ 10 billion subsidizing the ostentatious lifestyle of the upper class of society because you and I benefit 90% from the oil subsidy. The poor 40% of Nigerians benefit very little and we know the consequences of unveiling a masquerade."

He reiterated that it was expected that those benefitting from the oil subsidy scam will pose strong resistance but the administration's will will pave the way for them to be defeated. On Monday, May 29, President Bola Tinubu at his inaugural lecture announced the removal of the fuel subsidy and filling stations across the country have increased the price of the commodity while some closed to await further announcement on the decision.