By Fatima Zahra Muhammad
ASHENEWS reports that President Bola Tinubu says that the federal government, with the removal of fuel subsidy, has saved over N1 trillion.
The President stated this in a nationwide broadcast on Monday night.
He said that the funds, which otherwise would have gone to an unproductive venture will now be channeled towards making education more affordable for Nigerians.
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“In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters.
“That money will now be used more directly and more beneficially for you and your families. For example, we shall fulfill our promise to make education more affordable to all and loans to students who may need them.
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“No Nigerian student will have to abandon higher education because of lack of money. Our commitment is to promote the greatest good for the greatest number of our people. On this principle, we shall never falter,” he said.
He noted that the federal government was already in talks with the labour unions to introduce a new national minimum wage for workers.
“Once we agree on the new minimum wage and general upward review, we will make budget provision for it for immediate implementation,” he said.
The president equally lauded private employers in the private sector who have already implemented general salary reviews for employees.
The president acknowledged the ‘unavoidable lag between subsidy removal and its implementation’.
According to him, the government was working towards bridging the gap in the interest of the public.
He added that the federal government is working closely with states and local governments to implement interventions that will cushion the effect of the removal on the people.
