The federal government says the removal of the petrol subsidy was a crucial step to a sustainable future for the country.
Speaking at a press conference in Abuja on Thursday, Mohammed Idris, minister of information and national orientation, said the funds meant for the subsidy have been redirected by President Bola Tinubu to stimulate other key sectors of the economy.
The minister said the decision is a pointer to making difficult decisions in the interest of the greater good of the country.
“The removal of the fuel subsidy is a decisive step towards channelling resources where they matter most – impacting sectors critical to our national development,” he said.
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“This move is not without its challenges, but it signifies our unwavering commitment to making difficult decisions in the interest of the greater good.
“It aligns with our vision for a Nigeria that thrives on efficiency, transparency, and responsible governance.
“Fuel subsidy removal is a crucial step towards a more sustainable economic future, and we are working tirelessly to ensure that the benefits of this decision are felt by all citizens.
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“As we look ahead, let us embrace the spirit of hope and resilience. Change takes time, but every step forward is a testament to the progress we are making as a nation.
“The journey towards a better Nigeria is a collective endeavour, and your support and optimism are invaluable in this transformative process.
“Let us move into 2024 with hope in our hearts, knowing that the reforms of President Tinubu are laying the foundation for a brighter and more prosperous future for all Nigerians.”
The minister added that the president has signed executive orders aimed at reducing the tax burden on several key economic sectors.
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