President Bola Tinubu is considering a “temporary subsidy” on petrol as crude oil prices and foreign exchange rates continue to soar, according to ODUDUWA NEWS.
Sitrep gathered that there is no no final decision on the temporary subsidy yet.
However, presidency sources told TheCable,that the proposal is “firmly on the table” as Nigerians continue to groan under harsh economic realities following the removal of petrol subsidy in May 2023.
Already, labour unions have threatened to embark on an indefinite strike if the petrol price further surges.
The Kenyan government, on Monday, re-introduced fuel subsidies to curb soaring prices of petrol, kerosene, and diesel in the country.