Dapo Abiodun, governor of Ogun State has claimed that Nigeria would have spent N5.4 trillion by the end of 2024 if fuel subsidy wasn’t removed.
He revealed it would have been a very difficult situation for Nigeria to pay such amount of money if compared to the Federal Government’ budget of N6.7 trillion for the same year.
Abiodun, while speaking during a Special Church Service at the 64th National Day Celebration at the Cathedral Church of St. Peter, Ake, Abeokuta, disclosed that the money saved from fuel subsidy removal will now be channeled to infrastructure development in the nation.
”Mr. President removed the subsidy, which, if not curbed, would have cost us N5.4 trillion by the end of 2024.
“We have been busy subsidizing our neighbours; these are funds that can be invested in improving our infrastructure and other social services.
“Our budget this year for infrastructure was N6.7 trillion, meanwhile, the subsidy would have consumed N5.4 trillion, if not curbed or checked.” he said.