Backtrack : Subsidy Removal Not With Immediate Effect..Tinubu Media Centre


The Asiwaju Bola Ahmed Media Centre, has urged Nigerians to stop panic buying of petroleum product over the statement of President Bola Tinubu on fuel subsidy.

The Tinubu media centre made this appeal in a statement issued via its verified Twitter handle on Tuesday.

It noted that the President’s statement that petrol subsidy had stopped was not a new development but a restatement of the federal government’s intention to end subsidy by June.

Recall that, in his inaugural speech on Monday, Tinubu said the petrol subsidy regime was over.

The President said, “On fuel subsidy, unfortunately, the budget before I assumed office is that no provision is there for fuel subsidy. So, fuel subsidy is gone.”

Following Tinubu’s comments, huge queues resurfaced at filling stations in some parts of Nigeria — a situation the Independent Petroleum Marketers Association of Nigeria (IPMAN) blamed on panic buying.

But, the Tinubu media centre said the rush to purchase petrol “is needless” as the president only spoke based on already existing plans.

The centre added that the removal of the subsidy will not happen soon.

It said, “The public is advised to note that President Bola Tinubu’s declaration that “subsidy is gone” is neither a new development nor an action of his new administration,” the statement reads.

“He was merely communicating the status quo, considering that the previous administration’s budget for fuel subsidy was planned and approved to last for only the first half of the year.


Chris Kehinde Nwandu is the Editor In Chief of CKNNEWS || He is a Law graduate and an Alumnus of Lagos State University, Lead City University Ibadan and Nigerian Institute Of Journalism || With over 2 decades practice in Journalism, PR and Advertising, he is a member of several Professional bodies within and outside Nigeria || Member: Institute Of Chartered Arbitrators ( UK ) || Member : Institute of Chartered Mediators And Conciliation || Member : Nigerian Institute Of Public Relations || Member : Advertising Practitioners Council of Nigeria || Fellow : Institute of Personality Development And Customer Relationship Management || Member and Chairman Board Of Trustees: Guild Of Professional Bloggers of Nigeria

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