Browsing: Fuel subsidy and Nigerian state

In his inaugural address on Monday, President Bola Tinubu announced the end of fuel subsidy as it would no longer be an item on the budget. On Wednesday, Government announced a drastic rise in the prices of petrol from 185 to up to 557 Naira a litre depending on location. It was a shock to the Nation and immediately, labour was up in arms demanding for a complete withdrawal. The shock was due to expectations based on government announcements that palliatives would be negotiated and offered to poor Nigerians who would be impacted negatively by the new prices expected to come into effect in July this year.