President Bola Tinubu stated on Monday in Abuja that his administration will end the subsidy on petroleum products.
“Subsidy is gone,” Tinubu declared during his inauguration address at Eagle Square in Abuja, immediately after being sworn in as Nigeria’s 16th President.
According to the president, there is no provision for subsidy in the national budget beginning in June 2023, so it is no longer in effect. Tinubu disclosed at his inauguration on Monday in Abuja that his administration’s minimum GDP growth target is 6% per year.
He vowed to increase foreign direct investment by investigating any concerns about double taxation.