Tinubu Saves ₦10 Trillion Annually From Fuel Subsidy Removal, Says Senator Solomon Adeola

Tinubu Saves ₦10 Trillion Annually From Fuel Subsidy Removal, Says Senator Solomon Adeola

Senator Solomon Adeola (APC-Ogun West) has disclosed that Nigeria now saves about ₦10 trillion annually following President Bola Tinubu’s decision to remove the fuel subsidy. Adeola, Chairman of the Senate Committee on Appropriation, made the statement during his New Year thanksgiving service at the Cathedral Church of Christ, Ona-Nla, Ilaro, on Saturday.

According to the senator, popularly known as Yayi, the subsidy had long been a drain on the nation’s finances, benefiting only a few Nigerians while the country borrowed between ₦6 trillion and ₦7 trillion annually to fund it. He said that within Tinubu’s two years in office, the president successfully eliminated this economic burden, describing it as a major “cankerworm” that had undermined Nigeria’s economy.

Adeola also highlighted ongoing infrastructure projects under Tinubu’s administration as evidence of transformative progress. He mentioned the Lagos-Calabar Expressway, which spans 10–15 states, and the Sokoto-Badagry Road, along which 66 dams are being constructed, saying these projects are creating a “new Nigeria” and boosting the country’s economy.

Adeola’s remarks underscore the economic and infrastructural strides attributed to Tinubu’s administration since the removal of the fuel subsidy.