The Federal Government has said that state governments now have more money to operate following the removal of the petrol subsidy by Bola Tinubu’s administration in May 2023.
The Coordinating Minister of Finance, Wale Edun, revealed this at the National Health Financing Dialogue in Abuja on Thursday.
According to him, although the removal of the Premium Motor Spirit by Tinubu was a tough decision, the move has, however, paid off.
Removal of petrol subsidy has seen PMS price skyrocket to over ₦1000 per litre across the country, before dropping below ₦900 in recent times.
Although the inflation rates have fallen to 21.88 per cent in July from 22.22 per cent in June, it recorded a record high of about 27 per cent about one year ago.