FG to release breakdown of petrol subsidy savings soon — Tinubu

President Bola Tinubu has indicated that the Federal Government would soon release information regarding the utilization of funds saved through the lifting of the subsidy on petroleum products.

This statement was made by President Tinubu during a meeting with the leadership of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG). In the meeting, President Tinubu defended the decision to lift subsidy while also pointing out the infrastructure development projects his government has undertaken.

President Tinubu stated that he had warned before taking office that subsidy on petroleum products would be lifted despite the warning given to him by NUPENG of the possible industrial action against his government.

“I served notice: you may strike or you won’t, but the fuel subsidy will be gone. And today, to the benefit of our great country, I will soon publish the utilisation of what it is,” Tinubu said.

The President also rejected claims that his administration’s economic policies had failed to benefit ordinary Nigerians, pointing to regular salary payments by local, state and federal governments.

He argued that salary payments also stimulate economic activities by supporting traders, families and other businesses.

Tinubu further highlighted major infrastructure projects, including the Lagos-Ibadan, Abuja-Kaduna, Abuja-Kano and Sokoto-Badagry highways, which he said were being supported through government financing.

He said the projects were aimed at boosting economic activities and improving the safety of Nigerians.

On Compressed Natural Gas (CNG), Tinubu urged NUPENG to ensure that savings from the cheaper fuel option were passed on to commuters, saying the benefits were currently being enjoyed more by truck owners. Government.

The President commended NUPENG for its cooperation with his administration, describing the union as a “very good partner of government in progress” and a critical part of Nigeria’s economy.