Fuel subsidy is gone - President Bola Tinubu says in his inaugural speech (video)

President Bola Tinubu has said that fuel subsidy will no longer be sustained by his administration.

In his inaugural speech at Eagle Square, Abuja, on Monday, May 29, Tinubu said the money used for fuel subsidy will be channeled into public infrastructure, education, health care and creation of jobs.

He said;

"Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions."

Tinubu also promised to review complaints on multiple taxation so as to boost the economy and attract investors. He also said his administration is targeting a Gross Domestic Profit of not less than 6% growth.