Petrol Subsidy Is Unsustainable, Says Buhari In Last Budget Presentation

Written by on October 7, 2022

President Muhammadu Buhari on Friday pushed for the removal of fuel subsidy in 2023, saying that the policy is not sustainable considering current economic realities.

He shared the position while presenting a N20.51 trillion 2023 budget proposal to the National Assembly.

He said, “Petrol subsidy has been a recurring and controversial public policy issue in our country since the early eighties.

According to the President, discontinuing the policy is necessary for the country to manage limited resources.

The President, however, hinted that provisions would be made to cushion the effects of subsidy removal.

The N19.76 trillion proposed for the 2023 budget represents a 15.37 percent increase on the 2022 budget.

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