President Bola Tinubu has disclosed that the government has managed to save N1 trillion in the past two months since removing the petrol subsidy.
He made this revelation during his address to the nation on Monday. Tinubu explained that these funds, which would have been wasted by what he referred to as “smugglers and fraudsters,” will now be redirected towards intervention programs benefiting families nationwide.
In his nationwide broadcast on the country’s current economic challenges, he emphasized that the elimination of the unproductive fuel subsidy has resulted in substantial savings, even though he acknowledged the temporary hardships faced during the implementation of palliative measures in the past 62 days.
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Tinubu urged Nigerians to consider the bigger picture and look beyond the present difficulties.
“I implore you to trust in our capability to deliver and our genuine care for your welfare. Our positive and beneficial initiatives are actively underway, and I firmly believe in their success,” he reassured.
President Tinubu further expressed that the funds saved from the removal of subsidies will be utilized more effectively and advantageously for the benefit of the citizens and their families.
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He also pledged to steer the nation out of its current economic challenges through the measures his administration has already implemented.
