Bayo Onanuga, Special Adviser to the President on Information and Strategy, has firmly denied allegations that President Bola Tinubu’s administration misled the public about removing fuel subsidies. Onanuga clarified on his official X page that since the deregulation of the PMS sector was announced on May 29, 2023, subsidy provisions have been entirely removed from Nigeria’s budget, including the 2023 supplementary budget.
He addressed recent speculations that the government was still paying subsidies, stating that these claims are baseless. Onanuga explained that while the Nigerian National Petroleum Corporation (NNPC) absorbed rising fuel costs to protect consumers, this was done at significant financial strain and is unsustainable.
Looking ahead, Onanuga pointed out that the introduction of locally refined petrol, particularly from the Dangote refinery, will alleviate economic pressure and create jobs, offering a long-term solution to the current challenges.
