It is right time to take away subsidy – Dangote to FG

Chairman of Dangote Group, Aliko Dangote urged the Federal Government to stop the fuel subsidy, saying it is the right time to do so.

In an interview with Bloomberg TV on Monday, the billionaire insisted that the Nigerian government can’t afford to sustain petrol subsidy.

Recall that on May 29, 2023, President Bola Tinubu had declared an end to fuel subsidy during his inauguration speech in Abuja.

The end of the fuel subsidy regime had led to an increment in the pump price of fuel across the country.

However, Dangote said: “I think it is the right time to take away the subsidy because all countries have gotten rid of the subsidy.

“Our price of gasoline is about 60 percent the price of our neighbouring countries and we have porous borders, so it is not sustainable.

“Government cannot afford the amount of subsidies we are paying.”