Fuel subsidy could have hit ₦53tn without Tinubu’s reform – NRS chair
NRS Chairman Zacch Adedeji claims fuel subsidy removal prevented a ₦53tn bill and ₦3,500/$ exchange rate, defending Tinubu’s economic reforms. Read More: https://punchng.com/fuel-subsidy-could-have-hit-%e2%82%a653tn-without-tinubus-reform-nrs-chair/
The Chairman of Nigeria Revenue Service, Zacch Adedeji, revealed that Nigeria's petrol subsidy bill could have reached up to ₦53 trillion without President Bola Tinubu's reform, potentially weakening the exchange rate to ₦3,500 per dollar. He made these remarks during an exclusive interview on Channels Television's Sunday Politics programme, defending the economic reforms of Tinubu.
Adedeji claimed that the removal of fuel subsidy was the best decision for the country, contributing to the positive economic outcomes observed under the current administration. The NRS chairman pointed out that the subsidy regime had been a burden on Nigeria's finances for decades, and its removal had allowed the country to benefit from higher government revenues.
Despite the increase in petrol prices and the subsequent impact on the cost of living, Adedeji urged Nigerians to evaluate Tinubu's economic decisions objectively, rather than based on emotions.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
