“Tinubu Prevents ₦5.4 Trillion Petrol Subsidy in 2024, Says Governor Abiodun”

Babatunji Wusu –

– Financial Savings: Governor Abiodun states President Tinubu saved Nigeria ₦5.4 trillion by removing petrol subsidies.
– Subsidy Context: Previous administrations subsidized petrol for neighboring countries, diverting funds from domestic needs.
– Economic Initiatives: The current government is undertaking bold measures to prevent economic bankruptcy and promote growth.
– Call for Resilience: Abiodun encourages Nigerians to persevere and avoid protests, advocating for constructive engagement with the government.
– Investment Focus: He emphasizes the importance of reallocating subsidy funds to infrastructure and social services.

Governor Dapo Abiodun of Ogun State has commended President Bola Tinubu for preventing the country from incurring ₦5.4 trillion in petrol subsidy costs in 2024. During a church service commemorating Nigeria’s 64th Independence Day at the Cathedral Church of St. Peter in Ake, Abeokuta, he noted that previous administrations had been subsidizing petrol not just for Nigerians, but also for neighboring African countries.

Governor Abiodun emphasized the necessity of perseverance amid economic challenges, asserting that the President is actively working to reposition the nation for sustainable growth. He stated, “The federal government, under the amiable leadership of our President, Bola Tinubu, has embarked on bold initiatives aimed at revitalizing our economy and preventing bankruptcy. The removal of the subsidy would have otherwise cost us ₦5.4 trillion by the end of 2024.”

He highlighted that these subsidy funds could be better invested in improving infrastructure and social services. “This year’s budget for infrastructure is ₦6.7 trillion, while the subsidy would have consumed ₦5.4 trillion if it had not been curtailed,” he added.

Furthermore, Governor Abiodun urged Nigerians to refrain from participating in the planned October 1st protests, advocating instead for prayer and constructive engagement with the government. He remarked, “Let us be resilient and continue to pray, holding firm to our faith in God. We should avoid joining those who incite discord and call for protests, which lead to vandalism and the destruction of public property. Instead, let’s engage constructively with the government, as this administration is committed to inclusivity.”