Fuel Subsidy Is Gone­ – Tinubu

President Bola Ahmed Tinubu yesterday declared that fuel “subsidy is gone”.

He said this at Eagle Square, Abuja, in his speech after he was inaugurated as President and Commander-in-Chief of the Armed Forces of the Federal Republic.

In his inauguration speech, Tinubu had said subsidy was benefitting the rich at the expense of poor.

“We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions,” he said.

He said he would also  review complaints on multiple taxation so as to boost the economy and attract investors.