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First with the News

Nigeria: Subsidy Removal, Forex Policy Already Yielding Positive Results – Tinubu

July 30, 2023
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President of Nigeria, Bola Ahmed Tinubu. cybersecurity

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By Emmanuel Nduka

The Nigerian Government has heaped praises on itself on the some of its newly instituted policies, including the removal of fuel subsidy and the new forex regime, which it says are already “yielding positive results”.

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This position was taken by the Secretary to the Government of the Federation, George Akume over the weekend while he spoke at a Gala and Award Night in commemoration of the 2023 Civil Service Week in Abuja.

For this and many other of Tinubu’s policies, the SGF said the current administration “have received the support and commendation of the global community for our courage in introducing these policy shifts”.

On the negative impacts of the policies being endured by Nigerians, he said the Tinubu-led administration “shall, without delay, cushion the pains being experienced by our people as a result of these measures through a number of well-targeted policy interventions aimed at giving adequate relief and succor to a great number of our long-suffering citizens”.

President Tinubu had in his inaugural address on May 29, declared that there would no longer be a petroleum subsidy regime as the current 2023 budget does not contain provisions for it.

The spiraling effect of his statement has seen the price of premium motor spirit, PMS, now fixed at over N600, amid high cost of living.

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