Business News

Tinubu Defends Subsidy Removal

tinubu at UNGA

By Adedapo Adesanya  President Bola Tinubu has once again defended his administration’s decision to remove the petrol subsidy, saying it was indispensable to prevent the country from going bankrupt. He made the statement on Sunday as one of the panellists at the ongoing World Economic Forum (WEF) in Riyadh, Saudi Arabia, monitored by Business Post.  Recall that Mr Tinubu announced the removal of subsidy on petrol the day he was inaugurated into office on May 29, 2023, saying that subsidy is gone. This led to increases in the prices of commodities to rise through the roof, increasing hardship in the