Issues · Economy
Petrol subsidy removed on inauguration day (29 May 2023). Pump price tripled from ₦185/litre to ₦617+/litre within months. Subsequent N-Power-style cash transfers rolled out unevenly; CBN reserves freed from naira-defence absorbed by float-and-unify policy.
In Tinubu's words“Subsidy is gone. Painful, yes — but necessary. We cannot continue to subsidise consumption at the expense of production.”
Inauguration address, 29 May 2023; Presidential statement, July 2023.
Policy position
Subsidy removal stays. Reinvest the saved fiscal headroom into infrastructure (Lagos-Calabar coastal highway, rail), CNG conversion programme for mass transit, and the Presidential Conditional Cash Transfer to 15 million households.
More in Economy
