Nigerian President Bola Tinubu addressed the nation in an evening broadcast on Monday, acknowledging the economic hardship caused by the removal of a subsidy on petrol.
He however said the country would save “trillions of naira” yearly by scrapping the subsidy and that the money would be used to implement reforms that would help boost the economy.
Ending the decades-long subsidy has more than doubled the price of petrol and raised prices for food and other essentials.
Source: Africa News
