Former President of Nigeria, Olusegun Obasanjo has said the fuel subsidy removal in June 2023 by President Bola Ahmed Tinubu’s administratiion has come back due to inflation.
Obasanjo disclosed this in a recent interview with Financial Times.
In the interview, Obasanjo faulted how President Tinubu woke up one morning and removed fuel subsidies without thinking about the implications.
According to him, the government should have put measures in place before the fuel subsidy removal.
“There is a lot of work to be done not just woke up one morning and say you removed the subsidy.
“Because of inflation, the subsidy that we have removed is not gone. It has come back”, the former President stressed.
However, the revelation contradicts Tinubu’s declaration during his inaugural address on May 29, 2023, that fuel subsidy had been removed permanently.
The subsidy’s removal also led to a significant increase in petrol pump prices.
Obasanjo noted that the subsidy had effectively been introduced due to the current high inflation rate.
-9News Nigeria.
