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Presidency Denies Provision for N5.4TRN Fuel Subsidy In 2024

FG announces conclusion on new minimum wage
FG announces conclusion on new minimum wage

The Presidency has refuted claims that it has allocated N5.4 trillion for fuel subsidy in 2024, contrary to assertions by former Vice President Atiku Abubakar.

In a statement released on Thursday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, reaffirmed that the fuel subsidy regime has ended, as declared by President Bola Ahmed Tinubu on May 29, 2023.

The Presidency reiterated that no provision has been made for fuel subsidy in the 2024 budget, dismissing speculation and discussions about the alleged allocation.

Coordinating Minister of the Economy, Wale Edun, also confirmed that the government’s position on fuel subsidy remains unchanged, and efforts are focused on mitigating the effects of its removal and easing cost of living pressures on Nigerians.

The Presidency also clarified that two fiscal policy documents circulating online are merely proposals and not approved official documents. They urged the public and media to disregard the documents and cease further discussions on them.

The government assured that official positions on the documents will be made available after comprehensive reviews and approvals are completed.

This Article is Fact-Checked. See Policy.

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