Petrol stations in Lagos and Abuja started witnessing queues on Monday few hours after Nigerian new President Bola Tinubu announced that fuel subsidy has ended.

Some NNPC Limited stations in Lagos and Abuja were crowded by motorists who rushed to buy the product.

During his inaugural speech at Eagle Square in Abuja on Monday after being sworn into office Bola Tinubu announced the removal of fuel subsidy.

He said he was informed that there was no provision for fuel subsidy, adding that it could no longer be justified.

He said, “Fuel subsidy is no more. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources.

“We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.
“No provision for fuel subsidy.”

He said there would be a “thorough house cleaning,” adding that the interest rate would be reduced.





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