President Bola Tinubu has said that the Federal Government has saved N1trillion naira in the two months, since the removal of the petrol subsidy.
Tinubu said these monies that would have been otherwise squandered by those he called “smugglers and fraudsters” will now be channeled into intervention programmes targeting families nationwide.
While acknowledging the hardship occasioned by an unavoidable lag in palliative measures these past 62 days, he urged Nigerians to “look beyond the present temporary pains and aim at the larger picture. According to him, his government is monitoring the effects of exchange rates and inflation in Premium Motor Spirit, better known as petrol prices and will intervene when necessary.
MEANWHILE: President Bola Tinubu has directed the authorities in all Federal Institutions of higher learning to avoid arbitrary increase in sundry fees payable and where possible defer further increase so that parents and students do not face too many difficulties.
He also approved the provision of buses to the student bodies of all universities, polytechnics and colleges of education across the country.
Special Adviser to the President on Special Duties, Communications and Strategy, Dele Alake, disclosed this in a statement. Reports say the directive comes barely five days after the Presidency insisted that tuition remains free in federal universities, despite the hike in miscellaneous fees in several universities nationwide.