President Bola Tinubu has declared that under his administration, the era of fuel subsidy is over.
He made this known on Monday while giving his inaugural speech as president of the Federal Republic of Nigeria.
Tinubu who commended the outgoing administration for "phasing out the petrol subsidy regime", noted that "subsidy can no longer justify its ever-increasing costs in the wake of drying resources."
He insists that his administration will "instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions."
