Fuel subsidy: Fuel prices will not return to N194/liter - Oshiomhole stresses

Former National Chairman of the All Progressives Congress (APC) Adams Oshiomhole has noted that the Bola Tinubu-led administration will not reverse the current Petroleum pump price from N488 and N557 per liter to N194.

Oshiomhole, who is currently a Senator-elect made it known on Channels Television on Sunday while stressing that the budget doesn't provide for fuel subsidy beyond May 31st.

Backing the decision of President Bola Tinubu who announced the removal on Monday last week, Oshiomhole said it was a move other presidential candidates may have made if they had won the February 2023 election.

He said, “I think Nigerians are aware that this year’s budget did not provide for subsidy throughout 2023. It ended in June.

“All the leading presidential candidates had during the electioneering season agreed to remove the subsidy. I remember the then candidate, Peter Obi saying he would remove it the very first day. Atiku Abubakar and Bola Tinubu said the same thing.

“The issue is not whether you have revenue, if Nigeria is going to save about N7 trillion by removing subsidy, then there is no question that you can take part of that and put it in other sectors because those savings will go to the federation account which will be distributed among the three tiers of government”.

Meanwhile, the Trade Union Congress, TUC on Sunday asked the FG to revert to the old petrol pump price of N194 per liter while it continues to negotiate over the recent increase.

The union also asked the government to review the current minimum wage in a bid to cushion the effect of the petrol subsidy removal on Nigerians.

The demands were made at the reconvened meeting with the government held at the State House in Abuja, Sunday evening.