Nigeria's President Tinubu has re-echoed his views on subsidy removal in his inaugural speech as the 16th president. Marketers have been affected by the announcement, with many filling stations stopping dispensing. The government has not provided a clear pathway for the removal of subsidies, leading to concerns about chaos and marketers hoarding products. Stakeholders have backed the plan, but warned that without proper consultation and planning, the removal could backfire. Energy expert Ameh Madaki believes a phased approach with proper consultation and pricing planning would prevent disruption to the economy. Nigeria's President Tinubu is ready to tackle economic challenges by allowing national and subnational governments to generate, transmit, and distribute electricity using local resources. This would improve electricity supply and drive investment in the electricity sector. Subsidies have deprived the economy and petroleum sector of investments, jobs, and revenues.
Index to Nigerian Newspapers
