Senator Claims Nigeria Saves N10 Trillion Annually Through Fuel Subsidy Removal

Senator Solomon Adeola, Chairman of the Senate Appropriation Committee, asserts that Nigeria saves N10 trillion yearly through fuel subsidy removal, easing fiscal pressures. The move aims to reduce budget deficits and curb leakages, despite criticisms over increased fuel prices.

Adeola advocates reinvesting the savings in large-scale infrastructure projects like the Lagos-Calabar Coastal Highway and Sokoto-Badagry Super Highway. Additionally, plans for infrastructure development until 2024 were discussed by President Bola Tinubu and Finance Minister Wale Edun.