Ogun State Governor, Dapo Abiodun, has commended President Bola Tinubu for eliminating the petrol subsidy, saving Nigeria an estimated ₦5.4 trillion in 2024. The governor emphasized that this move stopped Nigeria from continuing to subsidize fuel for neighboring African countries, a practice that had been ongoing under previous administrations.
Governor Abiodun made these remarks during a church service marking Nigeria’s 64th Independence Day celebrations at the Cathedral Church of St. Peter in Ake, Abeokuta. He urged Nigerians to remain patient and resilient in the face of current economic hardships, stating that the President’s reforms are geared towards long-term national growth.
“The federal government under the leadership of President Bola Tinubu wasted no time in implementing bold initiatives aimed at rescuing our economy from potential bankruptcy,” Abiodun said. “The removal of the petrol subsidy, if left unchecked, would have cost us ₦5.4 trillion by the end of 2024.”
Abiodun further explained that the subsidy had been indirectly benefiting neighboring countries rather than Nigerians, and the funds saved from its removal could now be used to improve infrastructure and other essential services. He highlighted that Nigeria’s 2023 infrastructure budget is ₦6.7 trillion, almost entirely consumed by subsidy payments if they were not halted.
Calls for Patience and Constructive Engagement
Governor Abiodun also addressed ongoing discontent over economic challenges, particularly the planned protests on October 1st, Nigeria’s Independence Day. He urged Nigerians to avoid civil unrest and instead seek constructive dialogue with the government.
“Let us be resilient and continue to pray for our nation,” Abiodun stated. “It is important that we do not join those fanning the flames of discord through protests, violence, or civil disobedience, which lead to vandalism and destruction of public property.”
He called for national unity and collaboration with the government, assuring citizens that the current administration is inclusive and open to constructive criticism.
As Nigeria continues to navigate economic challenges, the removal of the petrol subsidy remains one of the most significant financial reforms of Tinubu’s presidency, aimed at steering the country towards fiscal sustainability.