Shettima Explains Tinubu's Omission of Subsidy Plan

Kashim Shettima, the Vice President of Nigeria, clarified that President Bola Ahmed Tinubu's omission of the petrol subsidy removal plan from his inaugural speech on May 29, 2023, was intentional. Shettima stated that the decision to remove the fuel subsidy was made long before the speech and was not a spur-of-the-moment decision.

He described the move as an act of courageous leadership, emphasizing that it was a decision kept close to the heart due to the anticipated public reaction. The removal of the subsidy has led to a significant rise in petrol prices and transport costs, but Shettima defended the administration's stance, asserting that it was necessary to stabilize public finances.

He also mentioned that the administration's economic reforms aim to strengthen the financial position of state governments and increase allocations from the federal account, ultimately benefiting the governors directly and enhancing their capacity to implement development projects.