The All Progressives Congress (APC) Bola Tinubu has pledged that if elected, he will abolish the subsidy on gasoline prices.
In front of an audience of prominent businesspeople from Lagos State on Friday, Tinubu made the declaration.
According to the candidate for the APC party, money currently used for fuel subsidies will be redistributed to enhance public hospitals, schools, and other public services.
He urged, “We must remove the PMS subsidy immediately. We will redirect funds to public infrastructure, health, and affordable infrastructure.
“Physical policy will be the main driver, we must steadily move out budget from dollar-dominated oil revenue.”
Some economic actors have called Nigeria’s massive annual fuel subsidies expenditure a hoax.
Peter Obi, presidential candidate for the Labour Party, LP, made a similar argument about the fuel subsidy in Nigeria.
Obi plans to make good on his promise to end the country’s fuel subsidy programme if elected president next month.