El-Rufai, speaking to reporters in Maiduguri, the capital of Borno State, highlighted that the federal government has escalated its expenditure on fuel subsidy compared to previous allocations.
“Fuel subsidy is a policy that the president has implemented, and it’s a necessary one. I have always advocated for the removal of fuel subsidy.”
“However, during the implementation process, it has become evident that the subsidy needs to be reinstated because currently, we are spending a substantial amount on subsidy even more than before.
“This is due to the observed impact, and the support measures aimed at mitigating the impact have not been as effective. Therefore, the federal government has resumed subsidizing petrol.”
He noted that a significant portion of the populace is unaware of the reinstated fuel subsidy, stating, “But, for those wondering if we are still subsidizing, they can compare the prices of petrol and diesel. Diesel, priced above a thousand naira, surpasses the price of petrol, which is at N600 per liter.
“So, we are indeed still subsidizing petrol because the government has recognized the need for adjustments in the initial implementation of the fuel subsidy.
