He made this declaration on Tuesday during the national caucus meeting of the All Progressives Congress (APC) at the State House Conference Centre, Abuja.
President Bola Tinubu has stated that allocations to state governors have tripled since his administration removed the controversial fuel subsidy.
He made this declaration on Tuesday during the national caucus meeting of the All Progressives Congress (APC) at the State House Conference Centre, Abuja.
The meeting, which commenced at 7:22pm with Tinubu’s arrival, saw the president defending his administration’s economic policies, despite widespread suffering across the country.
“The policies are difficult. There is no way Nigeria could have survived the continuation of fuel subsidy. There is no way, Today I can beat my chest,” Tinubu bragged in a video obtained by SaharaReporters.
He continued: “And each of the governors here, the allocation to the states is tripled. We have enough funding for local government. We have NELFUND to fund our children in school.”
However, Tinubu’s remarks come at a time when millions of Nigerians are grappling with severe economic hardship following the removal of fuel subsidy in May 2023.
The move led to an immediate and drastic increase in the cost of petrol, which in turn triggered a sharp rise in the prices of goods and services, transportation, and electricity tariffs.
The naira has also struggled against the dollar, exacerbating inflation and making basic necessities unaffordable for many citizens.
Nigerians, frustrated by the harsh realities of the government’s economic policies, took to the streets in August 2024 in massive protests, tagged #EndBadGovernance Protests.
Demonstrations erupted across major cities, with citizens demanding relief from the crippling economic conditions.
Protesters decried the skyrocketing cost of living, job losses, and the inability to afford essential items like food and medication.
Despite government assurances that the removal of subsidy would lead to better economic stability and infrastructural development, many Nigerians have yet to see tangible benefits.
Instead, the increased revenue from subsidy removal appears to have enriched state governments, while ordinary citizens continue to bear the brunt of inflation and economic mismanagement.
The protests, which were met with heavy police presence and crackdowns in some locations, highlighted the growing discontent among Nigerians who feel abandoned by the government.
Many have questioned the allocation of these increased funds to state governments, demanding transparency on how the additional revenue is being utilised.
Leave a Reply