Fashola said President Muhammadu Buhari has already removed fuel subsidy because there is no provision for it beyond June in the 2023 budget which was passed by the National Assembly.
He emphasized that while the incoming administration will make efforts to manage the impact of this removal on Nigerians, starting from June, there will no longer be a fuel subsidy in place.
‘’We see subsidy as price but it is a policy driven by law and finances. The 2023 budget has no subsidy component beyond June so as a matter of policy, this outgoing government has decided we can’t fund this subsidy anymore and we are taking it to the end of our administration.
“As a matter of Law, the Nigerian people have passed a law to end subsidy in June. In my view, there is no subsidy to be removed, it has been removed,” the minister said.
KanyiDaily recalls that President Muhammadu said fuel subsidy would end in 2023 because the cost was no longer sustainable considering the current fiscal impact.
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