The presidency says the most visible impact of the petrol subsidy removal is the increased allocation for states and local government areas (LGAs) in the country.
In a statement on Sunday, Bayo Onanuga, special adviser on information & strategy to President Bola Tinubu, responded to the recent comment of former Vice-President Atiku Abubakar on the petrol subsidy removal policy.
Atiku said Nigerians deserve explanation on the petrol subsidy savings, adding that it is false to say the savings are being used to fund workers’ welfare.
His statement followed the comment by Taiwo Oyedele, minister of finance and coordinating minister of the economy, that the federal government will soon publish a detailed account of how savings from the removal of petrol subsidy has been utilised.
According to the minister, a significant portion of the savings went into financing obligations that were previously funded through central bank
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