Subsidy Removal Saving Nigeria Over ₦10tn Annually — Ogun Senator

An Ogun State senator has said the removal of fuel subsidy by Bola Tinubu is saving Nigeria more than ₦10 trillion every year, describing the policy as one of the most consequential economic decisions in the country’s recent history.

According to the lawmaker, the subsidy regime had become unsustainable, draining public finances and limiting the government’s ability to invest in critical sectors such as infrastructure, healthcare, education, and security. He noted that the funds previously spent on fuel subsidy are now being redirected to long-term development projects aimed at strengthening the economy and improving the welfare of Nigerians.

The senator also argued that subsidy payments largely benefited smugglers and middlemen rather than ordinary citizens, adding that the reform has helped to reduce leakages and improve fiscal discipline.

While acknowledging the short-term hardships faced by Nigerians following the subsidy removal, he maintained that the policy would deliver long-term economic stability, attract investment, and create a more resilient economy.

He urged Nigerians to remain patient, stressing that ongoing reforms and targeted social interventions by the federal government are expected to ease the impact and ensure shared prosperity.