Former Minister of State for Labour Mr Festus Keyamo has lambasted Nigerians advocating for the retention of subsidy, explaining that there was no provision for subsidy in the 2023 Appropriation Act starting from June 2023. The former minister noted that the new administration of President Bola Tinubu inherited a regime that made no provision for subsidy in the budget. According to Keyamo, the Petroleum Industry Act which is now extant also has no provision for subsidy.
May 31, 2023The former minister noted that the new administration of President Bola Tinubu inherited a regime that made no provision for subsidy in the budget.
According to Keyamo, the Petroleum Industry Act which is now extant also has no provision for subsidy.SaharaReporters had reported that President Tinubu announced during his inaugural speech at Eagle Square, Abuja declared that “petroleum subsidy is gone”. “Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions,” Tinubu said on Monday.
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