Hunger protest: Tinubu to return fuel subsidy? Fact emerges

• President Bola Tinubu's minister of finance and coordinating economy, Wale Edun, has dismissed the possibility of returning the fuel subsidy
• According to Edun, there are no subsidies in the 2024 budget, and the present administration did not have plans to reintroduce it
• Edun's comment came amid the hunger protests where some protesters are asking the government to reduce the cost of fuel and return to the fuel subsidy era

Wale Edun, the minister of finance and coordinating economy, disclosed that no subsidy is in the 2024 budget while responding to questions about the country's hunger protests and the demands of the protest organisers.

Edun, in an interview on AIT on Tuesday, August 6, explained that President Bola Tinubu had corrected the wasteful expenditure of subsidies and ill-managed foreign exchange rates in the country.

Tinubu's minister dismisses the calls for return of subsidies Photo Credit: @FinMinNigeria, @officialABAT
Source: Twitter

He further disclosed the long-term and short-term efforts the Tinubu administration was making to reduce the cost of food in the market but dismissed the possibility of the government returning to the subsidy era.

Protesters demand the return of fuel subsidies

The hunger protest organisers demanded the return of the fuel subsidies. The protests, which started on Thursday, August 1, have been reportedly hijacked by some foreign interests, as some protesters raised Russian flags in some northern parts of the country.

In a state broadcast on Sunday, August 4, President Tinubu ruled out returning the fuel subsidy, adding that the decision to remove it was painful but necessary for the country.

According to the president, the subsidy payment had been a hindrance to Nigeria's economic progress, saying it was like a "noose around the economic jugular of our Nation."

Tinubu emphasized that removing the subsidy was a crucial step towards addressing decades of economic mismanagement. He acknowledged that the decision was painful but stressed its importance for the country's future economic growth.

See the video of the interview here:

Source: Legit.ng