Vice-President Kashim Shettima says payment of petrol subsidy will get “rid” of the country if it is not removed.
Speaking with journalists on his first day in office on Tuesday, Shettima said the administration of President Bola Tinubu would “frontally address” the issue of petrol subsidy.
The vice-president said there would be opposition from those benefiting from the petrol subsidy scam, adding that President Bola Tinubu is a man of strong will and conviction
“The president has already made a pronouncement yesterday on the issue of the fuel subsidy,” he said.
“The truth of the matter is that it is either we get rid of subsidy or the fuel subsidy gets rid of the Nigerian nation.
“In 2022, we spent $10 billion subsidising the ostentatious lifestyle of the upper class of society because you and I benefit 90 percent from the oil subsidy.
“The poor 40 percent of Nigerians benefit very little. And we know the consequences of unveiling a masquerade. We will get fierce opposition from those benefitting from the oil subsidy scam. But where there is a will, there is a way.
“Rest assured that our president is a man of strong will and conviction. In the fullness of time, you will appreciate his noble intentions for the nation. The issue of fuel subsidy will be frontally addressed. The earlier we do so, the better.”
During his inaugural speech on Monday, Tinubu said the petrol subsidy regime was over.
“On fuel subsidy, unfortunately, the budget before I assumed office is that no provision is there for fuel subsidy. So fuel subsidy is gone,” Tinubu had said.
Some hours after the president’s pronouncement, queues resurfaced in many filling stations as petrol prices skyrocketed.