Former President Olusegun Obasanjo has claimed that fuel subsidies, which were eliminated by the federal government in 2023, have been reinstated because to inflation.
Obasanjo highlighted this in a recent interview with the Financial Times. He criticized how the government canceled the subsidies.
According to him, the government should have taken certain steps before removing the subsidies. He did, however, explain that the subsidy had “come back” due to inflation.
Obasanjo said: “There’s a lot of work that needs to be done. Not just wake up one morning and say you removed the subsidy. Because of inflation, the subsidy that we have removed is not gone. It has come back,”
President Bola Tinubu during his inaugural address on May 29, 2023, had declared that fuel subsidy “is gone”. The development has led to the increase of petrol price from about N200 to over N900 per liter.
