Subsidy removal: FG broke, Tinubu will roll out incentives to reduce effect – Onanuga

March 2nd, 2024 6:03 pm

Subsidy removal: FG broke, Tinubu will roll out incentives to reduce effect – Onanuga

The Nigerian government, according to Bayo Onanuga, a former spokesperson for President Bola Tinubu, is “virtually broke.”

Onanuga made the statement while highlighting the fact that the fuel subsidy is no longer viable.

To this aim, Onanuga pleaded on Nigerian workers to back Tinubu as he creates incentives to lessen the impact of the removal of fuel subsidies.

Onanuga stated in a tweet that fuel subsidies are no longer unsustainable because the FG is essentially bankrupt.

“In addition to its debt of N77 trillion, it owes the NNPC Limited another N2.4 trillion for previous subsidies.

“The people and workers of Nigeria should support the government as it negotiates new wages and implements other interventions, as promised by President Tinubu, to lessen the effects of the new fuel price.”

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