Preselect Bola Tinubu has said that fuel subsidies will no longer be sustained by his administration. In his inaugural speech at Eagle Square, Abuja, on Monday, May 29, Tinubu said the money used for fuel subsidy will be channelled into public infrastructure, education, health care and the creation of jobs.
He said;
“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.”Tinubu also promised to review complaints on multiple taxations so as to boost the economy and attract investors. He also said his administration is targeting a Gross Domestic Profit of not less than 6% growth.