In a recent statement, the Nigerian government has firmly ruled out the reintroduction of fuel subsidies, despite ongoing protests fueled by rising costs and widespread hunger. This announcement was made by the Minister of Finance, Wale Edun, during an interview on AIT on Tuesday. ..Read Full Article
Protesters have been calling for the return of fuel subsidies as a means to alleviate the escalating cost of living. However, Edun made it clear that the 2024 national budget does not include any provisions for fuel subsidies. He emphasized that the country’ s current economic trajectory is promising.
” There is no fuel subsidy in the Budget. That is the truth and the technical fact. We have signs that we are going in the right direction. What we must determine to do is to maintain these trends, ” Edun stated.
This decision aligns with President Bola Ahmed Tinubu’ s recent address to the nation, where he described the removal of fuel subsidies as a painful but necessary measure. President Tinubu had abolished the subsidy in June 2023, leading to a significant increase in fuel prices, from N238 per liter to over N600 per liter.
Despite this stance, former President Olusegun Obasanjo has claimed in an interview with the Financial Times that the subsidy has effectively returned due to inflationary pressures.
In a related development, residents of Katsina state have turned to prayer in a bid to seek divine intervention against the challenges of hunger and insecurity. On Tuesday, a large crowd gathered at the Katsina Arabic Teachers College playground for a special prayer session. The event was held under tight security and included the ‘ Al- Qunut prayer, ‘ a supplication performed during times of calamity.
Similar prayer sessions took place at various locations across Katsina, including Filin Samji, Filin Yammawa, and Filin Canada football grounds. Participants expressed their hope that these prayers would bring relief from the ongoing hardships.
The organizers of the #EndBadGovernance protests had previously scheduled nationwide prayer sessions for Saturday, aiming to seek divine intervention from various mosques and churches across the country.
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