It’s time to end fuel subsidy payments, Dangote advises FG
Dangote
It’s time to end fuel subsidy payments, Dangote advises FG
Abdullateef Fowewe
Nigerian business tycoon, Aliko Dangote has advised the Federal Government to put an end to the fuel subsidy regime, stating that it is unsustainable and bleeding the country’s economy.
In an interview with Bloomberg TV, Dangote emphasised that the government cannot afford to continue paying subsidies.
He stated the FG is paying what they are not supposed to be paying.
He said, “I think it is the right time to take away the subsidy because all countries have gotten rid of the subsidy.
“Our price of gasoline is about 60 per cent the price of our neighbouring countries, and we have porous borders, so it is not sustainable. The government cannot afford the amount of subsidies we are paying.”
Recall that President Bola Tinubu had initially declared an end to fuel subsidies on May 29, 2023, but later reinstated them due to public protests.
