Tinubu Support Group Defends Petrol Discount Initiative
The Tinubu Support Group (TSG) has responded to former Vice President Atiku Abubakar's remarks regarding the Federal Government's 30-day petrol discount initiative. TSG insists that President Bola Tinubu is actively seeking ways to mitigate the hardships caused by increasing fuel prices.
The initiative, which involves the Nigerian National Petroleum Company Limited (NNPCL) temporarily foregoing its petrol retail profit margin, is intended to alleviate the financial burden on transportation and household expenses, rather than reinstating the petrol subsidy that was abolished in May 2023. TSG Director-General Dr Umar Tanko Yakasai stated that this intervention is distinct from the previous subsidy regime and reflects the administration's commitment to providing immediate relief while pursuing broader economic reforms.
Yakasai highlighted the need for the benefits of the initiative to reach ordinary Nigerians and criticized Atiku's proposal for a production-based subsidy, arguing it could lead to significant revenue losses.
Plus234Feed summary based on reporting from Nigerian Tribune. Read the original report below.
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