Aliko Dangote, the chairman of the Dangote Group, has declared that the Nigerian government should discontinue the fuel subsidy program.
Fuel subsidies, according to Dangote, must disappear because they will force the Nigerian government to “pay what they are not supposed to be paying.”
In an interview with Bloomberg TV on Monday, the business mogul claimed that the Nigerian government can’t afford to sustain petrol subsidies.
President Bola Tinubu announced the elimination of fuel subsidies in his inaugural speech in Abuja on May 29, 2023.
The countrywide fuel pump price has increased as a result of the termination of the fuel subsidy program.
Dangote, though, stated: “I believe now is the appropriate moment to remove the subsidy because all countries have gotten rid of the subsidy.
Because of our porous borders and gasoline prices that are almost 60% higher than those of our neighbors, this situation is unsustainable.
“We cannot continue to pay the amount of subsidies that the government is.”