Former Kaduna State governor Mallam Nasir El-Rufai recently stated that the Federal Government led by President Bola Tinubu is currently subsidizing fuel for Nigerians. El-Rufai expressed this view during an interaction with journalists in Maiduguri, the capital of Borno State, on Monday, noting that the FG is now spending more on fuel subsidy than before.
The President had announced the removal of fuel subsidies during his inauguration on May 29, 2023, mentioning that the country could no longer afford to provide this benefit to its citizens. However, this decision led to a surge in fuel prices and a subsequent increase in the cost of other goods and services, exacerbating the economic challenges facing the nation since 2023.
Contrary to the earlier removal of the subsidy, El-Rufai revealed that the government had reinstated the fuel subsidy. He explained that the return of the subsidy was prompted by the realization that the measures introduced to mitigate its impact had not been effective in alleviating the economic burden, leading to the reimplementation of fuel subsidy by the federal government.
El-Rufai highlighted that many individuals might not be aware of the reinstated fuel subsidy. He suggested comparing petrol and diesel prices as evidence, noting that while diesel is priced above one thousand naira per litre, petrol remains at N600 per litre.
This price discrepancy indicates that the government is still subsidizing petrol, as per El-Rufai’s observations, aimed at addressing the shortcomings in the initial implementation of the fuel subsidy.