President Buhari Approves Fuel Subsidy Removal, To Take Effect July 2023

The Minister of Finance, Zainab Ahmed, has disclosed that President Muhammadu Buhari has set June 2023 as the date for the removal of fuel subsidy.

Ms Ahmed disclosed this while appearing Thursday before the House of Representatives ad hoc committee investigating the fuel subsidy regime from 2013 to 2022.

The minister explained that if Mr Buhari’s regime continues to service the subsidy, the country will spend N6.4 trillion annually. Mr Buhari’s new deadline for removing fuel subsidy will be a month after he hands over to his successor in May 2023.