Removal of fuel subsidy saved N5.4trn for Nigeria – Gov Abiodun

The Governor of Ogun State, Dapo Abiodun has said that the subsidy on fuel, if not removed by President Bola Tinubu, would have cost the country N5.4 trillion by the end of 2024.

Abiodun said that it would have been devastating for Nigeria to pay such a huge amount in comparison to the Federal Government’s budget of N6.7 trillion for the same fiscal year.

The governor who spoke during a Special Church Service to mark the 64th National Day celebration at the Cathedral Church of St. Peter, Ake, Abeokuta, said the money is now available for the development of infrastructure across the country.

He said:”Mr. President removed the subsidy, which, if not curbed, would have cost us N5.4 trillion by the end of 2024.

“We have been busy subsidizing our neighbours; these are funds that can be invested in improving our infrastructure and other social services.

“Our budget this year for infrastructure was N6.7 trillion, meanwhile, the subsidy would have consumed N5.4 trillion, if not curbed or checked.”

Earlier in his message titled ‘Leading Our Nation Forward in a Time Like This: Lessons from Elisha’s Leadership’, the Diocesan Bishop of Ijebu North Anglican Diocese, Rt. Rev’d Dr. Akinwande Odubena, who also read from the book of 2 Kings, Chapter 7, Verse 1, noted that leadership plays a crucial role in the future of any country.

The cleric maintained that the country is currently dealing with hyper-inflation, problems of oil theft, increase in unemployment that has given birth to internet fraud, insecurity, infrastructural challenges, kidnapping and banditry. He urged citizens to be hopeful for a better Ogun State and Nigeria as a whole.

The bishop, while noting that it was important for the people and the leaders of Nigeria to trust in the plan of God, said that unity and prosperity must be prioritized.

Removal of fuel subsidy saved N5.4trn for Nigeria – Gov Abiodun