Fuel Subsidy Removal Was Essential For Nigeria’s Future,” Declares Senator Sani
By Trek Africa Newspaper
Senator Sani Musa, Chair of the Senate Committee on Finance, has praised President Bola Tinubu’s economic policies, particularly the removal of the fuel subsidy and the naira’s floating exchange rate, as transformative for Nigeria.
Upon taking office in May 2023, President Tinubu eliminated the costly fuel subsidy, saving the government billions annually, and moved to liberalize the naira to attract investment. These measures, while welcomed by investors, have led to a rise in fuel prices and inflation hitting 25%, impacting many Nigerians.
Speaking on Politics Today on Channels Television, Senator Sani emphasized that removing the fuel subsidy was crucial for the country’s long-term economic stability. He explained, “Removing the subsidy is the best thing that has happened to this country. We want to ensure these reforms don’t harm Nigerians in the long run.”
Representing Niger East in the National Assembly, Senator Sani further noted that the funds allocated monthly by the Federation Account Allocation Committee (FAAC) are sufficient for states, but many state governments fail to use them effectively to address critical issues.
“If state governments properly utilized the funds distributed by FAAC, we would see significant improvements across the country,” he added.
