'It is gone' - Why I announced end to fuel subsidy in my inaugural speech, Tinubu opens up

President Bola Ahmed Tinubu has opened up on how his special adviser on monetary policy, Wale Edun, and special adviser on special duties, communication and strategy, Dele Alake, excluded fuel subsidy removal in his inaugural speech.

Tinubu had on Monday, May 29, announced the end of fuel subsidy in his inaugural speech, saying “it is gone.”

The announcement had sent a wave of shock across the country as fuel queues return to stations and the price of pump price was jerked up times three.

During an interactive session with members of the Nigerian community living in France, the president said he felt it was expedient to stop the subsidy on the first day, Daily Trust reported.

He said fuel subsidy was a “scam” and disincentive to growth as it rewarded smugglers and reduced the burden of cost of the commodity for some countries.

Tinubu said the federal government had to save money to provide palliatives, assuring Nigerians of repositioning the education and health sectors, Leadership report added.