President Bola Tinubu has ruled out the possibility of returning to the fuel subsidy regime in Nigeria. He made this statement while providing an update on the National Affordable CNG Transit Programme, emphasizing that the country cannot afford to go back to a system that consumed trillions of naira and exposed the economy to international oil price fluctuations. Tinubu noted that disruptions to global energy supplies are pressuring petrol and diesel prices, but as a gas-rich nation, Nigeria can reduce its exposure by investing in a CNG transportation ecosystem. He also tasked states to deliver cheaper transport by October.
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