”Because of inflation, Fuel subsidy is back” – Obasanjo

Former President Olusegun Obasanjo has disclosed that the fuel subsidy, which was removed by the Federal Government in 2023, has been reintroduced due to inflation.

Obasanjo shared this information during a recent interview with the Financial Times, criticizing the government’s approach to removing the subsidy.

He stated that the government should have implemented certain measures before removing the subsidy. Despite its removal, he explained that the subsidy has effectively been reinstated because of the inflation rate.

“There’s a lot of work that needs to be done. Not just wake up one morning and say you removed the subsidy. Because of inflation, the subsidy that we have removed is not gone. It has come back,” Obasanjo said