JUST IN: “Fuel subsidy had to go” – Tinubu tells Nigerians

President Bola Ahmed Tinubu highlighted in his broadcast speech to Nigerians that the fuel subsidy had to be eliminated because it was no longer sustainable.

The President made this statement during his broadcast address on Monday, July 31, 2023, in which he discussed his economic initiatives thus far.

Recall that the President during his inaugural speech on May 29th announced the removal of the fuel subsidy which caused widespread reactions as cost of transportation skyrocketed due to higher fuel prices.

Earlier today the President also approved the provision of free buses to students in universities, colleges of education, and polytechnics, nationwide.

This was made known in a statement on Monday by the President’s Special Adviser on Special Duties, Communication, and Strategies, Dele Alake.

The Statement reads:

In furtherance of his desire to ease the burden of the fuel subsidy removal on students of higher institutions of learning, President Bola Tinubu has approved provision of buses to the students’ bodies of all universities, polytechnics and colleges of education across the country.

The desire of the President is to see that students can access their campuses without much difficulty as a result of higher transportation costs.

The provision of the buses will also remove the burden of additional cost of daily commuting on parents and guardians.

In line with his promise to ensure no Nigerian student abandons his or her educational pursuits as a result of lack of money and economic circumstances of their parents, President Tinubu has also approved the removal of all restrictions on the students’ loan to make it available to any student or household that may desire it.

Similarly, President Tinubu has directed the authorities in all Federal Institutions of higher learning to avoid arbitrary increase in sundry fees payable and where possible defer further increase so that parents and students don’t face too many difficulties.

While it is important to reiterate that President Tinubu has directed release of over 200,000 Metric Tonnes of grains to families in 36 states and Federal Capital Territory, Abuja, the government is working to ensure that vulnerable students can also benefit from conditional cash transfers and food distribution.

The Federal Government salutes the courage, wisdom and partnership of Nigerian Students as our country navigates this challenging time.

President Tinubu will continue to prioritise education and the needs of the students, improve welfare of teaching and non-academic staff and invest in infrastructure to make our institutions of higher learning become more globally competitive.

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